Federal Commissioner of Taxation v Brewing Investments Ltd [2000] FCA 920

FEDERAL COURT OF AUSTRALIA

Federal Commissioner of Taxation v Brewing Investments Ltd [2000] FCA 920

INCOME TAX – assessable income – liquidation distribution received by the taxpayer, an Australian resident company, where distribution made out of liquidation distribution received by a non-resident company from liquidator of another non-resident company – whether distribution to taxpayer company made by liquidator out of income – whether s 47(1) of the Income Tax Assessment Act 1936 (Cth), by deeming liquidation distribution to be a dividend paid out of profits, applied to deem liquidation distribution to the taxpayer to be made out of income. Income Tax Assessment Act 1936 (Cth) ss 44(1), 47(1) WORDS AND PHRASES: "for the purposes of this Act", "dividends paid ... out of profits"

Harrowell v Commissioner of Taxation (1967) 116 CLR 607 considered Gibb v Commissioner of Taxation (1966) 118 CLR 628 discussed Commissioner of Taxation (NSW) v Stevenson (1937) 59 CLR 80 referred to Hill v Permanent Trustee Co of New South Wales Ltd [1930] AC 720 referred to Inland Revenue Commissioners v George & Burrell [1924] 2 KB 52 referred to Federal Commissioner of Taxation v Uther (1965) 112 CLR 630 discussed Federal Commissioner of Taxation v Blakely (1951) 82 CLR 388 discussed Archer Bros Pty Ltd (in liq) v Federal Commissioner of Taxation (1953) 90 CLR 140 discussed Federal Commissioner of Taxation v W E Fuller Pty Ltd (1959) 101 CLR 403 discussed Inland Revenue Commissioners v Blott [1920] 2 KB 657 cited Parke Davis & Co v Commissioner of Taxation (1959) 101 CLR 521 discussed Glenville Pastoral Co Pty Ltd (in liq) v Federal Commissioner of Taxation (1963) 109 CLR 199 considered

THE FEDERAL COMMISSIONER OF TAXATION v

BREWING INVESTMENTS LTD (ACN 004 233 005) V 64 of 2000 HILL, HEEREY AND SUNDBERG JJ 10 JULY 2000 SYDNEY