Callow, Thomas Joseph v Commissioner of Taxation Callow, Janette v Commission of Taxation [1997] FCA 275

CATCHWORDS INCOME TAX - consideration of capital gains tax provisions - whether s 160M(7) Income Tax Assessment Act applied - whether an "asset" under s 160M(7) must be an asset of the taxpayer PRECEDENT - whether a particular decision amounted to a binding authority for the purposes of the present case- whether there was "reasoning attributable to a majority" STATUTORY INTERPRETATION - whether subsequent legislative statement is persuasive in interpreting an earlier section Income Tax Assessment Act 1936 (Cth) s 160M(7) Part IIIA, s 160ZC(1) Hepples v Federal Commissioner of Taxation (1992) 173 CLR 492 Dist Commissioner of Taxation v Cooling (1990) 22 FCR 42 Cons Hepples v Federal Commissioner of Taxation (1990) 22 FCR 1 Refd Paykel v Commissioner of Taxation (1994) 49 FCR 41 Foll Dickenson's Arcade Pty Ltd v Tasmania (1974) 130 CLR 177 Foll Trade Practices Commission v Abbco Iceworks Pty Ltd (1994) 52 FCR 96 Refd Kalwy v Secretary, Department of Social Security (1992) 38 FCR 295 Refd Interlego AG v Croner Trading Pty Limited (1992) 39 FCR 348 Refd Downey v Trans Waste Pty Limited (1991) 172 CLR 167 Refd Reuter v Federal Commissioner of Taxation (1993) 111 ALR 716 Refd Thomas Joseph Callow v Commissioner of Taxation No QG 78 of 1995 Janette Callow v Commission of Taxation No QG 79 of 1995 Kiefel J Brisbane 27 March 1997

IN THE FEDERAL COURT OF AUSTRALIA QUEENSLAND DISTRICT REGISTRY GENERAL DIVISION No QG 79 of 1995 BETWEEN: JANETTE CALLOW Applicant AND: COMMISSIONER OF TAXATION Respondent JUDGE MAKING ORDER: Kiefel J DATE OF ORDER: 27 March 1997 WHERE MADE: Brisbane MINUTES OF ORDERS THE COURT ORDERS THAT: 1. The applicant's appeal against the respondent's objection decision of 6 April 1995 be upheld. 2. The applicant's objection of 27 July 1994 against the amended assessment issued by the respondent on 10 June 1994 in respect of the income year ending 30 June 1992 be allowed in full. 3. The respondent pay the applicant's costs of the appeal Note: Settlement and Entry of Orders is dealt with in Order 36 of the Federal Court Rules.