Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
McDonald v Commissioner of Taxation [2001] FCA 305 TAXES AND DUTIES – capital gains tax – whether property was acquired prior to the introduction of capital gains tax CONTRACTS – contract for the sale and purchase of real estate in New South Wales – intention to create legal relations – whether an oral contract to purchase the property was entered into prior to the exchange of written contracts ––presumption that, in New South Wales, parties intend to be bound by contract for sale of land only on exchange
Income Tax Assessment Act 1936 (Cth) s 106U(3) Allen v Carbone (1975) 132 CLR 528 at 533 followed GR Securities Pty Ltd v Baulkham Hills Private Hospital Pty Ltd (1986) 40 NSWLR 631 followed Sindel v Georgiou (1984) 154 CLR 661 at 665-666 followed Elgas Ltd. v A. J. Young Industries Pty. Ltd. (1987) NSW ConvR ¶55-329 at 57,016 followed Kirton v Nethery (1996) 7 BPR 14,954 followed Lezabar Pty. Ltd. v Hogan (1989) NSW ConvR ¶55-468 followed Dowdle v Inverell Shire Council (1999) 195 ANZ ConvR 429 at 431 referred to
Carter and Harland Contract Law in Australia 2nd ed. 1991 at [401] IAN MCDONALD & ANOR v COMMISSIONER OF TAXATION A 35 OF 2000 BEAUMONT ACJ, GYLES AND STONE JJ CANBERRA 22 MARCH 2001
IN THE FEDERAL COURT OF AUSTRALIA
AUSTRALIAN CAPITAL TERRITORY DISTRICT REGISTRY A 35 OF 2000
ON APPEAL FROM A JUDGE OF THE FEDERAL COURT OF AUSTRALIA
BETWEEN: IAN MCDONALD
FIRST APPELLANT
LESLEY MCDONALD
SECOND APPELLANT
AND: COMMISSIONER OF TAXATION
RESPONDENT
JUDGE: BEAUMONT ACJ, GYLES AND STONE JJ
DATE OF ORDER: 22 MARCH 2001
WHERE MADE: CANBERRA
THE COURT ORDERS THAT:
1 The appeal be dismissed.
2 The appellants pay the respondent's costs.
Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.
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