Brady King Pty Ltd v The Commissioner of Taxation of the Commonwealth of Australia (No 2) [2008] FCA 1918

FEDERAL COURT OF AUSTRALIA

Brady King Pty Ltd v The Commissioner of Taxation of the Commonwealth of Australia (No 2) [2008] FCA 1918 STATUTORY INTERPRETATION - meaning of "have regard to" – nature of compliance required – failure to comply leading to invalidity TAXATION - GST - application of s 75-10(3) margin scheme - GST ruling GSTR 2000/21 - valuation by professional valuer - valuation method - hypothetical development method of valuation - acceptable method of valuation – required information excluded from valuation - not a valuation under the scheme A New Tax System (Goods and Services Tax) Act 1999 (Cth) s 75-10(3) A New Tax System (Goods and Services Tax) Margin Scheme Valuation Requirements Determination (No 2) 2000 (Cth) Boland v Yates Property Corporation Pty Ltd (1999) 167 ALR 575 applied Closer Settlement Ltd v The Minister (1942) 17 LGR (NSW) 62 applied Faheem Khalid Lodhi v R [2007] NSWCA 360 cited Gwynvill Properties Pty Ltd v Commissioner for Main Roads (1983) 50 LGRA 322 applied Hunter Resources Ltd v Melville (1988) 164 CLR 234 applied Legal & General Life of Australia Ltd v Hudson Pty Ltd (1985) 1 NSWLR 314 cited McCathie v Federal Commissioner of Taxation (1944) 69 CLR 1 applied Melwood Units Pty Ltd v Commissioner of Main Roads [1979] AC 426 applied Minister for Aboriginal Affairs v Peko-Wallsend Ltd (1986) 162 CLR 24 cited Port Stephens Shire Council v Tellamist Pty Ltd (2004) NSWCA 353 applied Project Blue Sky Inc v Australian Broadcasting Authority (1998) 194 CLR 355 applied R v Hunt; Ex parte Sean Investments Pty Ltd (1979) 180 CLR 322 applied River Bank Pty Ltd v Commonwealth (1974) 48 ALJR 483 cited Rondo v R (2001)126 A Crim R 562cited Tasker v Fullwood [1978] 1 NSWLR 20 applied The Queen v Toohey; Ex parte Meneling Station Pty Ltd (1982) 158 CLR 327 cited Alan Hyam The Law Affecting Valuation of Land in Australia (3rd ed 2004) BRADY KING PTY LTD v THE COMMISSIONER OF TAXATION OF THE COMMONWEALTH OF AUSTRALIA