Minerva Financial Group Pty Ltd v Commissioner of Taxation [2024] FCAFC 28

FEDERAL COURT OF AUSTRALIA

Minerva Financial Group Pty Ltd v Commissioner of Taxation [2024] FCAFC 28 Appeal from: Minerva Financial Group Pty Ltd v Commissioner of Taxation [2022] FCA 1092

File number: VID 662 of 2022

Judgment of: BESANKO, COLVIN AND HESPE JJ

Date of judgment: 8 March 2024

Catchwords: TAXATION – Income Tax Assessment Act 1936 (Cth) Part IVA – where gist of the scheme was failure by a trustee to exercise a discretion to make a distribution – whether a reasonable person would conclude that the applicant entered into or carried out one or more of the schemes for the dominant purpose of enabling it to obtain a tax benefit in connection with the scheme within the meaning of s 177D of the Income Tax Assessment Act 1936 (Cth)

Legislation: Income Tax Assessment Act 1936 (Cth) ss 177A, 177C, 177D, Part IVA

Cases cited: British American Tobacco Australia Services Ltd v Commissioner of Taxation [2010] FCAFC 130; (2010) 189 FCR 151 Commissioner of Taxation v Ashwick (Qld) No 127 Pty Ltd [2011] FCAFC 49; (2011) 192 FCR 325 Commissioner of Taxation v Citigroup Pty Ltd [2011] FCAFC 61; (2011) 193 FCR 380 Commissioner of Taxation v Guardian AIT Pty Ltd ATF Australian Investment Trust [2023] FCAFC 3 Commissioner of Taxation (Cth) v Hart [2004] HCA 26; (2004) 217 CLR 216 Commissioner of Taxation v Macquarie Bank Limited [2013] FCAFC 13; (2013) 210 FCR 164 Commissioner of Taxation v Spotless Services Ltd [1996] HCA 34; (1996) 186 CLR 404 Macquarie Finance Ltd v Commissioner of Taxation [2005] FCAFC 205; (2005) 146 FCR 77 Metal Manufactures v Commissioner of Taxation [1999] FCA 1712 Noza Holdings Pty Ltd v Commissioner of Taxation [2011] FCA 46