Grofam Pty Ltd & Ors v The Commissioner of Taxation of the Commonwealth of Australia [1997] FCA 660

CATCHWORDS CONSTRUCTION OF INSTRUMENTS - Terms of settlement between Commissioner of Taxation and taxpayers - terms provided for the issue by the Commissioner of amended assessments under the Income Tax Assessment Act 1936 - proper construction of terms. INCOME TAX - administration of the Income Tax Assessment Act 1936 (Cth) - consideration of the Commissioner's power to compromise proceedings. Income Tax Assessment Act 1936 (Cth); s.8. Precision Pools Pty Ltd v Federal Commissioner of Taxation (1992) 37 FCT 554 GROFAM PTY LTD & ORS v THE COMMISSIONER OF TAXATION OF THE COMMONWEALTH OF AUSTRALIA No. VG 460 of 1994 CORAM: SHEPPARD, FOSTER AND WHITLAM JJ PLACE: SYDNEY (Heard in Melbourne) DATE: 26 MARCH 1997

IN THE FEDERAL COURT OF AUSTRALIA) ) VICTORIA DISTRICT REGISTRY ) No. VG 460 of 1994 ) GENERAL DIVISION ) BETWEEN: GROFAM PTY LTD. (ACN 004 970 487) & ORS Appellant AND: THE COMMISSIONER OF TAXATION OF THE COMMONWEALTH OF AUSTRALIA Respondent MINUTES OF ORDER CORAM: SHEPPARD, FOSTER AND WHITLAM JJ PLACE: SYDNEY (Heard in Melbourne) DATE: 18 APRIL 1997 THE COURT ORDERS THAT: 1. The appeal and cross-appeal be dismissed. 2. No order as to costs. NOTE: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.

IN THE FEDERAL COURT OF AUSTRALIA) ) VICTORIA DISTRICT REGISTRY ) No. VG 460 of 1994 ) GENERAL DIVISION ) ON APPEAL FROM A JUDGE OF THE FEDERAL COURT OF AUSTRALIA BETWEEN: GROFAM PTY LTD. (ACN 004 970 487) & ORS Appellant AND: THE COMMISSIONER OF TAXATION OF THE COMMONWEALTH OF AUSTRALIA Respondent CORAM: SHEPPARD, FOSTER AND WHITLAM JJ PLACE: SYDNEY DATE: 18 APRIL 1997 SUPPLEMENTARY REASONS FOR JUDGMENT THE COURT: On 26 March last we published our reasons for judgment in appeals numbers VG 209, 269, 409 and 489 of 1995 and also in appeals numbers VG 493, 494, 495 and 496 of 1995. We also published separate reasons in matter number VG 460 of 1994. In the second of those judgments we discussed the Commissioner's powers to compromise disputes and referred to the possibility of mediation of outstanding questions. Since we delivered the reasons for judgment in the various matters a mediation has taken place and has resulted in the settlement of outstanding issues with the consequence that the parties have agreed that each of the appeals and cross-appeals is to be dismissed and that there be no order as to costs. Accordingly, the Court orders by consent that each of the appeals and cross-appeals be dismissed and that there be no order as to the costs of any party to any of the appeals or cross-appeals. I certify that this and the preceding page is a true copy of the reasons for judgment herein of the Court. Associate Dated