Pearson v Commissioner of Taxation [2005] FCA 250

FEDERAL COURT OF AUSTRALIA

Pearson v Commissioner of Taxation [2005] FCA 250

TAXATION – unit trusts – whether beneficiary presently entitled – whether entitlement disclaimed

Taxation Administration Act 1953 (Cth) s 14ZZ Income Tax Assessment Act 1936 (Cth) s 95A The Union-Fidelity Trustee Company of Australia Ltd and Another v The Commissioner of Taxation of the Commonwealth of Australia (1969) 119 CLR 177 cited Federal Commissioner of Taxation v Whiting and Others (1942-43) 68 CLR 199 applied Arjon Pty Ltd v Commissioner of State Revenue [2003] VSCA 213 discussed Commissioner of State Revenue v Karingal No. 2 Holdings Pty Ltd [2003] VSCA 214 Kent v The Vessel "Maria Luisa" (No 2) (2003) 130 FCR 12 cited Trustees of the Estate Mortgage Fighting Fund Trust v Commissioner of Taxation (2000) 102 FCR 15 discussed Re Smith, Public Trustee v Aspinall (1928) Ch 915 cited Buschau v Rogers Communications Inc, 20 February 2004, Court of Appeal for British Columbia discussed Ramsden v Federal Commissioner of Taxation [2004] FCA 632 cited Commissioner of Taxation v Ramsden [2005] FCAFC 39 applied Saunders and Anglia Building Society [1971] AC 1004 discussed R P Meagher et al, Jacobs' Law of Trusts in Australia, 6th edn, Butterworths, Sydney, 1997 Halsbury's Laws of England, 4th edn, Vol 48 JANETTE ANN PEARSON v COMMISSIONER OF TAXATION Q 264 of 1999 Q 265 of 1999 Q 266 of 1999 SPENDER J 16 MARCH 2005 BRISBANE

IN THE FEDERAL COURT OF AUSTRALIA

QUEENSLAND DISTRICT REGISTRY Q 264 of 1999

Q 265 of 1999

Q 266 of 1999

BETWEEN: JANETTE ANN PEARSON

APPLICANT

AND: COMMISSIONER OF TAXATION

RESPONDENT

JUDGE: SPENDER J

DATE OF ORDER: 16 MARCH 2005

WHERE MADE: BRISBANE

THE COURT ORDERS THAT: 1. The parties supply short minutes of orders to give effect to these reasons, except orders as to costs, by 1 April 2005. 2. The applicant file any written submissions on costs within seven days; the respondent file its submissions on costs within a further seven days. 3. Should the parties wish any further findings of fact to be made, other than the findings made in these reasons, written submissions concerning such findings should be made within seven days. Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.