Decleah Investments Pty Ltd and Prince Removal and Storage Pty Ltd as Trustees for the PRS Unit Trust v Commissioner of Taxation [2018] FCA 717

FEDERAL COURT OF AUSTRALIA

Decleah Investments Pty Ltd and Prince Removal and Storage Pty Ltd as Trustees for the PRS Unit Trust v Commissioner of Taxation [2018] FCA 717 Appeal from: Decleah Investments Pty Ltd and Anor as Trustee for the PRS Unit Trust and Commissioner of Taxation [2017] AATA 2418

File number: VID 1409 of 2017

Judge: STEWARD J

Date of judgment: 22 May 2018

Catchwords: TAXATION – goods and services tax – appeal from a decision of the Administrative Appeals Tribunal setting aside objection decision and increasing GST and administrative penalty payable – calculation of GST payable under margin scheme – valuation on an "as is" basis – whether an approved valuation for the purposes of A New Tax System (Goods and Services Tax) Act 1999 (Cth)

Legislation: A New Tax System (Goods and Services Tax) Act 1999 (Cth) ss 9-75, 75-10, 75-35, 195-1 Administrative Appeals Tribunal Act 1975 (Cth) ss 39, 44 Income Tax Assessment Act 1936 (Cth) Income Tax Assessment Act 1997 (Cth)

Cases cited: Brady King Pty Ltd v Federal Commissioner of Taxation (No.2) (2008) 220 FCR 284 Chevron Australia Holdings Pty Ltd v Federal Commissioner of Taxation (No.4) [2015] FCA 1092 Chevron Australia Holdings Pty Ltd v Federal Commissioner of Taxation (2017) 251 FCR 40 Friends of Leadbeater's Possum Inc v VicForests [2018] FCA 178 Haritos v Federal Commissioner of Taxation (2015) 233 FCR 315 Housing Commission of New South Wales v Falconer [1981] 1 NSWLR 547 Jagroop v Minister for Immigration and Border Protection [2014] FCAFC 123 Kennedy v Federal Commissioner of Taxation (2008) 168 FCR 566 Repatriation Commission v Hill (2002) 69 ALD 581 Spencer v Commonwealth (1907) 5 CLR 418 Walker v Wilson (1991) 172 CLR 195