Deputy Commissioner of Taxation v Hua Wang Bank Berhad (No 4) [2012] FCA 1482

FEDERAL COURT OF AUSTRALIA

Deputy Commissioner of Taxation v Hua Wang Bank Berhad (No 4) [2012] FCA 1482 Citation: Deputy Commissioner of Taxation v Hua Wang Bank Berhad (No 4) [2012] FCA 1482

Parties: DEPUTY COMMISSIONER OF TAXATION v HUA WANG BANK BERHAD DEPUTY COMMISSIONER OF TAXATION v CHEMICAL TRUSTEE LIMITED and DERRIN BROTHERS PROPERTIES LIMITED and BYWATER INVESTMENTS LIMITED DEPUTY COMMISSIONER OF TAXATION v SOUTHGATE INVESTMENT FUNDS LIMITED

File numbers: VID 672 of 2010 VID 887 of 2010 VID 888 of 2010

Judge: PERRAM J

Date of judgment: 21 December 2012

Catchwords: PRACTICE AND PROCEDURE – Summary judgment – whether issues on summary judgment application have been determined and are therefore defeated by res judicata – whether respondents have reasonable prospects of success – whether judgment should be stayed INCOME TAX – General Interest Charge – where GIC previously excised from summary judgments – whether GIC applies to summary judgment on grounds other than originally applied and should therefore be reinstated – whether item 4 of Schedule 2 to the Tax Laws Amendment (2011 Measures No 3) Act 2011 (Cth) applies – whether s 284-80(1) of Schedule 1 to the Taxation Administration Act 1953 (Cth) applies PRACTICE AND PROCEDURE – Enforcement – charging orders – whether Commissioner should have a charge over one taxpayer's securities

Legislation: Federal Court of Australia Act 1976 (Cth) s 31A Income Tax Assessment Act 1936 (Cth) ss 163AA, 175 Tax Laws Amendment (2011 Measures No 3) Act 2011 sch 2 (item 4) Tax Laws Amendment (Transfer of Provisions) Act 2010 (Cth) sch 1 (pt 3, s 5-10) Taxation Administration Act 1953 (Cth) ss 8AAG, 14ZZM, sch 1 (ss 284-20, 284-25, 284-30, 284-35, 284-70, 284-75, 284-80, 361-5(1) Federal Court Rules 2011 rr 39.05, 41.10 Supreme Court (General Civil Procedure) Rules 2005 (Vic) rr 73.02, 73.03, 73.04, 73.05