Australian Building Systems Pty Ltd v Commissioner of Taxation [2014] FCA 116

FEDERAL COURT OF AUSTRALIA

Australian Building Systems Pty Ltd v Commissioner of Taxation [2014] FCA 116 Citation: Australian Building Systems Pty Ltd v Commissioner of Taxation [2014] FCA 116

Parties: AUSTRALIAN BUILDING SYSTEMS PTY LTD ACN 094 238 678 (IN LIQUIDATION) v COMMISSIONER OF TAXATION GINETTE DAWN MULLER AND JOANNE EMILY DUNN AS LIQUIDATORS OF AUSTRALIAN BUILDING SYSTEMS PTY LTD ACN 094 238 678 (IN LIQUIDATION) v COMMISSIONER OF TAXATION

File numbers: QUD 540 of 2012 QUD 555 of 2012

Judge: LOGAN J

Date of judgment: 21 February 2014

Catchwords: INCOME TAX – application of s 254 Income Tax Assessment Act 1936 (Cth) – is a liquidator under s 254 required to account to the Commissioner of Taxation out of the proceeds of sale, any capital gains tax liability that crystallises on the sale of an asset that belonged to the company before liquidation Held: no, given the present absence of an assessment

Legislation: Corporations Act 2001 (Cth) ss 9, 501, 553, 555, 556, 1337B, Pt 5.3A Income Tax Assessment Act 1922 (Cth) ss 31, 89 Income Tax Assessment Act 1936 (Cth) ss 6, 254, 255 Income Tax Assessment Act 1997 (Cth) s 102-5 Judiciary Act 1903 (Cth) ss 39B, 78B Taxation Administration Act 1953 (Cth) s 14ZZ

Cases cited: Bluebottle UK Ltd v Deputy Commissioner of Taxation (2007) 232 CLR 598 considered Clyne v Deputy Commissioner of Taxation (1981) 150 CLR 1 considered Commissioner of Taxation v Prestige Motors Pty Ltd (1994) 181 CLR 1 considered Deputy Commissioner of Taxation v Barkworth Olives Management Ltd [2011] 1 Qd R 326 followed Deputy Commissioner of Taxation (NSW) v Brown (1958) 100 CLR 32 cited Fermanis v Chesire Holdings Pty Ltd [1990] 1 WAR 373 cited Howey v Commissioner of Taxation (1930) 44 CLR 289 cited MacCormick v Commissioner of Taxation (1984) 158 CLR 622 considered