Commissioner of Taxation v Balasubramaniyan [2022] FCA 374

Federal Court of Australia

Commissioner of Taxation v Balasubramaniyan [2022] FCA 374 File number: VID 474 of 2020

Judgment of: BEACH J

Date of judgment: 8 April 2022

Catchwords: FOREIGN ACQUISITIONS – acquisition of real property – residential property – contraventions of Foreign Acquisitions and Takeovers Act 1975 (Cth) – passive investments – contraventions of s 94(1) concerning failure to notify residential land acquisitions – contraventions of s 95(1) concerning holding an interest in more than one established dwelling at the same time – ss 95 and 98 calculation of capital gains – pecuniary penalties – fixing of penalties under s 82 of Regulatory Powers (Standard Provisions) Act 2014 (Cth).

Legislation: Foreign Acquisitions and Takeovers Act 1975 (Cth) ss 4, 28, 38(3), 74(1)(b), 94, 95, 98, 175 Foreign Acquisitions and Takeovers Legislation Amendment Act 2015 (Cth) ss 28, 38(3) Foreign Acquisitions and Takeovers Regulation 2015 (Cth) ss 14(3), 38(3) Regulatory Powers (Standard Provisions) Act 2014 (Cth) ss 81, 82, 84

Cases cited: Australian Competition and Consumer Commission v Australian Safeway Stores Pty Ltd (1997) 145 ALR 36 Australian Competition and Consumer Commission v Cement Australia Pty Ltd (2017) 258 FCR 312 Australian Competition and Consumer Commission v Hillside (Australia New Media) Pty Ltd t/a Bet365 (No 2) [2016] FCA 698 Australian Competition and Consumer Commission v Leahy Petroleum Pty Ltd (No 3) (2005) 215 ALR 301 Australian Securities and Investments Commission v Commonwealth Bank of Australia [2020] FCA 790 Australian Securities and Investments Commission v Westpac Banking Corporation (No 3) (2018) 131 ACSR 585 Markarian v The Queen (2005) 228 CLR 357