Granby Pty Ltd v The Commissioner of Taxation of the Commonwealth of Australia [1995] FCA 259

CATCHWORDS

TAXATION - capital gains tax - determination of cost base of assets - assets acquired by lessee from lessors by paying "residual values" for assets as fixed in the leases - whether the lessors and lessee "dealing with each other at arm's length" - Income Tax Assessment Act 1936, para 160ZH(9)(c). Administrative Appeals Tribunal Act 1975 s 44 Income Tax Assessment Act 1936 s 160ZH; sub-ss 26AAA(4), 102AG(3), 160ZH(1), (9); paras 160ZH(9)(a), (b), (c) Australian Trade Commission v. W.A. Meat Exports Pty. Ltd. (1987) 75 A.L.R. 287 Barnsdall v. Federal Commissioner of Taxation 88 A.T.C. 4,565 The Trustee for the Estate of the late A.W. Furse No 5 Will Trust v. Federal Commissioner of Taxation 91 A.T.C. 4,007 Minister of National Revenue v. Merritt 69 D.T.C. 5,159 Robinson v. Minister of National Revenue [1987] 1 C.T.C. 2,055 GRANBY PTY. LTD. ACN NO. 008 721 515 V. THE COMMISSIONER OF TAXATON OF THE COMMONWEALTH OF AUSTRALIA WAG150 OF 1993

LEE J. PERTH 28 APRIL 1995

IN THE FEDERAL COURT) OF AUSTRALIA ) WESTERN AUSTRALIA ) DISTRICT REGISTRY ) GENERAL DIVISION ) NO. WAG 150 of 1993

ON APPEAL FROM THE GENERAL ADMINISTRATIVE DIVISION OF THE ADMINISTRATIVE APPEALS TRIBUNAL B E T W E E N: GRANBY PTY. LTD. ACN NO. 008 721 515 Applicant and THE COMMISSIONER OF TAXATION OF THE COMMONWEALTH OF AUSTRALIA Respondent

MINUTE OF ORDER JUDGE MAKING ORDER: LEE J. DATE OF ORDER: 28 APRIL 1995 WHERE MADE: PERTH

THE COURT ORDERS THAT:

The appeal be dismissed with costs. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.

IN THE FEDERAL COURT) OF AUSTRALIA ) WESTERN AUSTRALIA ) DISTRICT REGISTRY ) GENERAL DIVISION ) NO. WAG 150 of 1993

ON APPEAL FROM THE GENERAL ADMINISTRATIVE DIVISION OF THE ADMINISTRATIVE APPEALS TRIBUNAL B E T W E E N: GRANBY PTY. LTD. ACN NO. 008 721 515 Applicant and THE COMMISSIONER OF TAXATION OF THE COMMONWEALTH OF AUSTRALIA Respondent