Federal Court of Australia
CATCHWORDS
Income Tax Assessment Act 1936 - Withholding tax - Extension of loan originally exempt under ss.128G and 128H - Whether the extension produced a new "loan raised in pursuance of a contractual obligation entered into on or before 20 May 1983" within s.128G(3) - Meaning of "loan raised" - Distinction between agreement to vary a contract and agreement to rescind and replace a contract - Importance of intention.
Income Tax Assessment Act 1936, ss.128A, 128EH, 128G and 128H Acts Interpretation Act 1901, s.13(1)
Mercantile Credits Ltd. v. Federal Commissioner of Taxation (1985) 61 A.L.R. 331
Morris v. Baron £19182 A.C. 1
British and Beningtons Ltd. v. North Western Cachar Tea Company Ltd. £19233 A.C. 48
Tallerman and Company Proprietary Limited v. Nathan's Merchandise (Victoria) Proprietary Limited (1957) 98 C.L.R. 93
United Dominions' Corporation (Jamaica) Ltd. v. Shoucair £1969] 1 A.C. 340
Attorney-General v. South Wales Electrical Power Distribution Company £1920] 1 K.B. 552
Connolly v. Keating (No. 1) £1903] 1 I.R. 353 Reed International Ltd. v. Inland Revenue Commissioners £1975] 2
W.L.R. 622
Burnes v. Trade Credits Ltd. £1981] 1N.S.W.L.R. 93 B.S. Lyle Limited v. Chappell £19321 1 K.B. 691 Roberts v. I.A.C. (Finance) Pty. Ltd. £19673 V.R. 231
Bldridge and Morris v. Taylor C1931] 2 K.B. 416
THE COMMISSIONER OF TAXATION V. MERCANTILE CREDITS LIMITED
NSW G. 314 of 1985 NSW G. 315 of 1985
Bowen C.J., Wilcox and Burchett Jd. 21 February 1986 Sydney
IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY No. 314 of 1985
No. 315 of 1985
wee ey
GENERAL DIVISTON
ON APPEAL FROM THE FEDERAL COURT OF AUSTRALTA
BETWEEN :
THE COMMISSTONER OF TAXATION
Appellant
MERCANTILE CREDITS LIMITED
Respondent
MINUTE OF ORDER
JUDGES MAKING ORDER: Bowen C.J., Wilcox and Burchett JJ.
DATE: 21 February 1986 PLACE: Sydney
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