Federal Court of Australia
FEDERAL COURT OF AUSTRALIA
Peter Greensill Family Co Pty Ltd (trustee) v Commissioner of Taxation [2020] FCA 559 File number: NSD 1363 of 2019
Judge: THAWLEY J
Date of judgment: 28 April 2020
Catchwords: TAXATION – appeal under s 14ZZ of the Taxation Administration Act 1953 (Cth) – assessment of trustee under s 98 of the Income Tax Assessment Act 1936 (Cth) –whether capital gains distributed to a non-resident beneficiary were assessable to the resident trustee – whether capital gains were disregarded under s 855-10(1) of the Income Tax Assessment Act 1997 (Cth) (ITAA 1997) – where beneficiary deemed to have capital gains under Subdiv 115-C of the ITAA – appeal dismissed
Legislation: Income Tax Assessment Act 1936 (Cth) ss 95, 97, 98, 98A, 99, 99A, 100, 102UW, 102UX, 102UY Income Tax Assessment Act 1997 (Cth) ss 102-5, 102-20, 104-55, 104-60, 104-75, 115-210, 115-215, 115-220, 115-222, 115-225, 115-227, 230-310, 768-605(rpld), 855-10, 855-15, 855-40, 995-1 Tax Laws Amendment (2006 Measures No 4) Act 2006 (Cth) Taxation Administration Act 1953 (Cth) s 14ZZ Explanatory Memorandum, New International Tax Arrangements (Managed Funds and Other Measures) Bill 2004 (Cth) Explanatory Memorandum, Tax Laws Amendment (2006 Measures No 4) Bill 2006 (Cth)
Cases cited: Amlin Corporate Member Ltd v Austcorp Project No 20 Pty Ltd (2014) 311 ALR 222 Associated Beauty Aids Pty Ltd v Commissioner of Taxation (1965) 113 CLR 662 Australian Competition and Consumer Commission v Maritime Union of Australia (2001) 114 FCR 472 Certain Lloyd's Underwriters v Cross (2012) 248 CLR 378 Comcare v Amorebieta (1996) 66 FCR 83 Commissioner of Taxation v Angus (1961) 105 CLR 489 Commissioner of Taxation v Belford (1952) 88 CLR 589 Commissioner of Taxation v Consolidated Media Holdings Ltd (2012) 250 CLR 503 Deal v Father Pius Kodakkathanath (2016) 258 CLR 281 Francis Travel Marketing Pty Ltd v Virgin Atlantic Airways Ltd (1996) 39 NSWLR 160 Hi-Fert Pty Ltd v Kiukiang Maritime Carriers Inc [No 5] (1998) 90 FCR 1 HP Mercantile Pty Ltd v Commissioner of Taxation (2005) 143 FCR 553 Joye v Beach Petroleum NL (1996) 67 FCR 275 Kafataris v Deputy Commissioner of Taxation (2008) 172 FCR 242 Pizzino v Finance Brokers (WA) Pty Ltd (1982) 56 ALJR 843 Travelex Ltd v Commissioner of Taxation (2009) 178 FCR 434 Travelex Ltd v Commissioner of Taxation (2010) 241 CLR 510
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