GFT Australia Pty Ltd v Collector of Customs [1995] FCA 68

CATCHWORDS

CUSTOMS - assessment of "customs value" - "deductible financing costs in relation to the goods" - meaning of the words in s. 154 "interest payable under a written contract agreement or arrangement under which the purchaser is permitted to delay the payment of the price" - whether applicable to a later reduction to writing of an originally oral arrangement - discussion of the policy of the provision - whether an amount added to the price in respect of a delay in payment was interest - effect of notation on invoice - weight to be given to the characterisation of a payment in a commercial document not said to be a sham. Customs Act 1901, ss. 154, 159 and 161 Harnor v. Groves (1855) 15 C.B. 667 Masters v. Cameron (1954) 91 CLR 353 LNC (Wholesale) Pty Ltd v. Collector of Customs (1988) 17 FCR 154 NM Superannuation Pty Ltd v. Young (1993) 41 FCR 182 Lomax (H.M. Inspector of Taxes) v. Peter Dixon and Son, Limited [1943] 1 KB 671 Bond v. Barrow Haematite Steel Company [1902] 1 Ch 353 GFT AUSTRALIA PTY LIMITED v. COLLECTOR OF CUSTOMS VG 74 of 1994 Jenkinson, Burchett & O'Loughlin JJ. Melbourne 24 February, 1995

IN THE FEDERAL COURT OF AUSTRALIA) ) VICTORIA DISTRICT REGISTRY ) VG 74 of 1994 ) GENERAL DIVISION )

ON APPEAL FROM A JUDGE OF THE FEDERAL COURT OF AUSTRALIA

BETWEEN: GFT AUSTRALIA PTY LTD Appellant

AND: COLLECTOR OF CUSTOMS Respondent

CORAM: Jenkinson, Burchett and O'Loughlin JJ. PLACE: Melbourne DATE : 24 February, 1995

ORDERS OF THE COURT

THE COURT ORDERS THAT:

1. The appeal be allowed with costs; 2. The orders made at first instance be set aside, and in lieu thereof it be ordered: (a) That the decision of the Administrative Appeals Tribunal be set aside; (b) That the matter be remitted to the Tribunal, differently constituted, for decision according to law; (c) That each party bear its or his own costs of the appeal from the Tribunal.