Kafataris v Deputy Commissioner of Taxation [2015] FCA 874

FEDERAL COURT OF AUSTRALIA

Kafataris v Deputy Commissioner of Taxation [2015] FCA 874 Citation: Kafataris v Deputy Commissioner of Taxation [2015] FCA 874

Parties: PETER KAFATARIS and HELEN KAFATARIS v DEPUTY COMMISSIONER OF TAXATION

File number: NSD 928 of 2014

Judge: DAVIES J

Date of judgment: 20 August 2015

Catchwords: INCOME TAX – capital gains tax – whether applicants entitled to roll-over relief under s 122-15 or s 122-125 of the Income Tax Assessment Act 1997 (Cth) – whether CGT event A1 or CGT event E1 occurred – principles applicable to ss 104-10 and 104-55 of the Income Tax Assessment Act 1997 (Cth) – order of application of CGT events under s 102-25 of the Income Tax Assessment Act 1997 (Cth)

Legislation: Income Tax Assessment Act 2007 (Cth) ss 102-25, 104-10, 104-55, 122-15, 122-125 Conveyancing Act 1919 (NSW) s 23C Stamps Act 1982 (Vic)

Cases cited: Zobory v Commissioner of Taxation (1995) 64 FCR 86 Halloran v Minister Administering National Parks and Wildlife Act 1974 (2007) 229 CLR 545 Oughtred v Inland Revenue Commissioners [1960] AC 206 Neville v Wilson [1997] Ch 144 Baloglow v Konstantinidis (2001) 11 BPR 20,721 Oswal v Commissioner of Taxation [2013] FCA 745 Korda v Australian Executor Trustees (SA) Ltd (2015) 317 ALR 225; [2015] HCA 6 Permanent Trustee Co v Scales (1930) 30 SR (NSW) 39 Byrnes v Kendle (2011) 243 CLR 253 Taras Nominees Pty Ltd v Federal Commissioner of Taxation (2015) 228 FCR 418 Davidson v Chirnside (1908) 7 CLR 324 Buzza v Comptroller of Stamps (Vic) (1951) 83 CLR 286 Herdegen v Federal Commissioner of Taxation (1988) 20 ATR 24