SPIC Pacific Hydro Pty Ltd v Chief Commissioner of State Revenue (No 2) [2021] NSWSC 486

Supreme Court New South Wales

Medium Neutral Citation: SPIC Pacific Hydro Pty Ltd v Chief Commissioner of State Revenue (No 2) [2021] NSWSC 486 Hearing dates: On the papers Date of orders: 7 May 2021 Decision date: 07 May 2021 Jurisdiction: Equity Before: Payne JA Decision: (1) Pursuant to s 101(1)(a) of the Taxation Administration Act 1996 (NSW), revoke the Duties Notice of Assessment No 1656952346 dated 21 July 2017; (2) Pursuant to s 101(1)(d) of the Taxation Administration Act 1996 (NSW), remit the matter to the defendant for determination in accordance with the Court's reasons, namely that the assessment of duty to the plaintiff is based upon a valuation of $177,292,257 for the leasehold interests in land; (3) The defendant repay the plaintiff any amount already paid pursuant to the Notice of Assessment No 1656952346 dated 21 July 2017 in excess of the amount of the further assessment the subject of order (2), plus interest; (4) The defendant pay the plaintiff's costs. Catchwords: TAXES AND DUTIES – land tax – liability – valuation of leasehold interests in land – form of orders COSTS – whether a differential award of costs should be made – no separable issues Legislation Cited: Duties Act 1997 (NSW), s 155(1) Taxation Administration Act 1996 (NSW), ss 101(1)(a), 101(1)(d) Cases Cited: Commissioner of State Revenue (WA) v Placer Dome Inc (2018) 265 CLR 585; [2018] HCA 59 Federal Commissioner of Taxation v Resource Capital Fund III LP (2014) 225 FCR 290; [2014] FCAFC 37 James v Surf Road Nominees Pty Ltd (No 2) [2005] NSWCA 296 SPIC Pacific Hydro Pty Ltd v Chief Commissioner of State Revenue [2021] NSWSC 395 Category: Consequential orders Parties: SPIC Pacific Hydro Pty Ltd (Plaintiff) Chief Commissioner of State Revenue (Defendant) Representation: Counsel: D Batt QC, P Herzfeld (Plaintiff) R Seiden SC, D Woods (Defendant)