AusNet Services Limited v Commissioner of Taxation [2024] FCA 90

FEDERAL COURT OF AUSTRALIA

AusNet Services Limited v Commissioner of Taxation [2024] FCA 90 File number(s): VID 389 of 2022

Judgment of: HESPE J

Date of judgment: 16 February 2024

Catchwords: TAXATION – restructure involving stapled group – whether applicant had made a valid rollover election under Division 615 of the Income Tax Assessment Act 1997 (Cth) – whether scheme for reorganising affairs of an entity – whether ratios under s 615-20(2) were equal

Legislation: Income Tax Assessment Act 1936 (Cth) former ss 160ZZPA, 160ZZPC Income Tax Assessment Act 1997 (Cth) ss 1-3, 615-5, 615-15, 615-20, 615-25, 615-30, 615-65, 703-65, 703-70, 703-75, 703-80, 719-90; Division 615; Part 3-90

Cases cited: BHP Billiton v Federal Commissioner of Taxation [2020] HCA 5; (2020) 270 CLR 60 ConnectEast Management Ltd v Commissioner of Taxation (Cth) [2009] FCAFC 22; (2009) 175 FCR 110 Hooper v Western Counties & South Wales Telephone Company Limited (1892) 68 LT 78 Isles v Daily Mail Newspaper [1912] HCA 18; (1912) 14 CLR 193 Kenny & Good Pty Ltd v MGICA (1992) Ltd [1999] HCA 25; (1999) 199 CLR 413 Mitsui & Co (Australia) Ltd v Commissioner of Taxation [2011] FCA 1423 Peter Greensill Family Co Pty Ltd v Commissioner of Taxation [2021] FCAFC 99; (2021) 285 FCR 410 Project Blue Sky Inc v Australian Broadcasting Authority [1998] HCA 28; (1998) 194 CLR 355 Re Opes Prime Stockbroking Ltd [2009] FCA 813; (2009) 179 FCR 20 Saeed v Minister for Immigration and Citizenship [2010] HCA 23; (2010) 241 CLR 252 Wik Peoples v Queensland [1996] HCA 40; (1996) 187 CLR 1