Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Commissioner of Taxation v Hannover Life Re of Australasia Ltd [2024] FCAFC 23 Appeal from: Hannover Life Re of Australasia Ltd v Commissioner of Taxation [2023] FCA 680
File number(s): NSD 816 of 2023
Judgment of: DERRINGTON, THAWLEY AND HESPE JJ
Date of judgment: 4 March 2024
Catchwords: TAXATION – goods and services tax – input tax credits – creditable acquisitions – creditable purpose – whether life insurer is entitled to input tax credits under the A New Tax System (Goods and Services Tax) Act 1999 (Cth) for acquisition of "overheads" – where life insurer made both input taxed supplies and GST-free supplies of reinsurance – whether overheads related to all supplies – fair and reasonable method of calculating extent of creditable purpose
Legislation: A New Tax System (Goods and Services Tax) Act 1999 (Cth) ss 11-5, 11-15, 11-20, 11-25, 11-30 Taxation Administration Act 1953 (Cth)
Cases cited: Hannover Life Re of Australasia Ltd v Commissioner of Taxation [2023] FCA 680 HP Mercantile Pty Ltd v Commissioner of Taxation [2005] FCAFC 126; 143 FCR 553 Rio Tinto Services Ltd v Commissioner of Taxation [2015] FCAFC 117; 235 FCR 159 Ronpibon Tin NL v Commissioner of Taxation [1949] HCA 15; 78 CLR 47
Division: General Division
Registry: New South Wales
National Practice Area: Taxation
Number of paragraphs: 41
Date of hearing: 27 February 2024
Counsel for the Appellant: Mr D Thomas SC and Mr D Lewis
Solicitor for the Appellant: Hall & Wilcox
Counsel for the Respondent: Mr D Bloom KC and Mr C Sievers
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