Westpac Banking Corporation v Commissioner of Taxation [1996] FCA 901

CATCHWORDS FRINGE BENEFITS TAX - employer Bank charges lower rate of interest and waives establishment fee on loans made to staff - whether foregone establishment fee a "residual fringe benefit" within Div 12 of Part III of Fringe Benefits Tax Assessment Act 1986 - relationship between Division 4 ("Loan Fringe Benefits") and Division 12 ("Residual Fringe Benefits") of Part III. Fringe Benefits Tax Assessment Act 1986, ss 16, 18, 45, 48, 136 WESTPAC BANKING CORPORATION v COMMISSIONER OF TAXATION No NG 386 of 1996 No NG 451 of 1996 No NG 452 of 1996 Lockhart, Lindgren, Sackville JJ Sydney 18 October 1996

IN THE FEDERAL COURT OF AUSTRALIA) NEW SOUTH WALES DISTRICT REGISTRY) No NG 386 of 1996 GENERAL DIVISION ) No NG 451 of 1996 No NG 452 of 1996

On appeal from a Judge of the Federal Court of Australia

BETWEEN: WESTPAC BANKING CORPORATION Appellant AND: COMMISSIONER OF TAXATION Respondent CORAM: Lockhart, Lindgren, Sackville JJ PLACE: Sydney DATE: 18 October 1996

MINUTE OF ORDERS THE COURT ORDERS: 1. THAT the appeal be dismissed. 2. THAT the appellant pay the respondent's costs. NOTE: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.

IN THE FEDERAL COURT OF AUSTRALIA) ) NEW SOUTH WALES DISTRICT REGISTRY) No. NG 386 of 1996 ) NG 451 of 1996 GENERAL DIVISION ) NG 452 of 1996 ON APPEAL FROM A JUDGE OF THE FEDERAL COURT OF AUSTRALIA

BETWEEN: WESTPAC BANKING CORPORATION Appellant AND: COMMISSIONER OF TAXATION Respondent

COURT: LOCKHART, LINDGREN, SACKVILLE JJ. DATE: 18 OCTOBER 1996 PLACE: SYDNEY REASONS FOR JUDGMENT LOCKHART J. I agree with the reasons for judgment of Lindgren J. and Sackville J. and with the orders proposed by them. I certify that this page is a true copy of the reasons for judgment herein of the Honourable Justice Lockhart. Associate Dated: 18 October 1996