Electricity Supply Industry Superannuation (Qld) Ltd v Deputy Commissioner of Taxation [2002] FCA 1274

FEDERAL COURT OF AUSTRALIA

Electricity Supply Industry Superannuation (Qld) Ltd v Deputy Commissioner of Taxation [2002] FCA 1274 INCOME TAX - Tax avoidance - Part IVA - scheme to reduce tax - franking credit benefits - whether requirements of s 177EA(3) satisfied. INCOME TAX - whether scheme for disposition of shares or interest in shares within the meaning of s 177EA - meaning of scheme - form and substance of scheme - investment in trust - where acquisition of interest in shares in trust fund - whether distribution of franked dividend paid or made in respect of share or interest in share of a company.

Taxation Administration Act 1953 (Cth) Income Tax Assessment Act 1936 (Cth) Electricity Act 1976 (Qld) Electricity Act 1994 (Qld) Statutory Authorities Superannuation Legislation Amendment Act 1995 (Qld)

Federal Commissioner of Taxation v Spotless Services Ltd (1996) 186 CLR 404 Refd Federal Commissioner of Taxation v Peabody (1994) 181 CLR 359 Refd ELECTRICITY SUPPLY INDUSTRY SUPERANNUATION (QLD) LTD v DEPUTY COMMISSIONER OF TAXATION Q227 OF 2001 COOPER J BRISBANE 17 OCTOBER 2002

IN THE FEDERAL COURT OF AUSTRALIA

QUEENSLAND DISTRICT REGISTRY Q227 OF 2001

BETWEEN: ELECTRICITY SUPPLY INDUSTRY SUPERANNUATION (QLD) LTD ACN 069 634 439

APPLICANT

AND: DEPUTY COMMISSIONER OF TAXATION

RESPONDENT

JUDGE: COOPER J

DATE OF ORDER: 17 OCTOBER 2002

WHERE MADE: BRISBANE

THE COURT ORDERS THAT: 1. The application is dismissed. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.

IN THE FEDERAL COURT OF AUSTRALIA

QUEENSLAND DISTRICT REGISTRY Q227 OF 2001

BETWEEN: ELECTRICITY SUPPLY INDUSTRY SUPERANNUATION (QLD) LTD ACN 069 634 439

APPLICANT

AND: DEPUTY COMMISSIONER OF TAXATION