Pacific General Securities Ltd & Finmore Holdings Pty Ltd v Chief Commissioner of State Revenue [2005] NSWADT 85

Set aside by Appeal : Set aside by Appeal on 13/07/2005

CITATION: Pacific General Securities Ltd & Finmore Holdings Pty Ltd v Chief Commissioner of State Revenue [2005] NSWADT 85 DIVISION: Revenue Division APPLICANT PARTIES: Pacific General Securities Ltd and Finmore Holdings Pty Ltd RESPONDENT Chief Commissioner of State Revenue FILE NUMBER: 046047 HEARING DATES: 21/02/2005 SUBMISSIONS CLOSED: 02/21/2005 DATE OF DECISION: 04/15/2005

BEFORE: Seve J - Judicial Member APPLICATION: Duties Act - aggregation of dutiable transactions - Taxation Administration Act - liability to pay interest MATTER FOR DECISION: Principal matter Death Duty Assessment Act 1973 (WA) Duties Act 1997 Interpretation Act 1987 LEGISLATION CITED : Stamp Duties (Amendment) Act 1978 Stamp Duties Act 1920 Stamp Duties Act 1923 (SA) Taxation Administration Act 1996 Attorney-General v Cohen and another [1937] 1 KB 478 Chief Commissioner of State Revenue v Lee 2000 ATC 4600 Chief Commissioner of State Revenue v Pacific General Securities Ltd & Finmore Holdings Pty Ltd (RD) [2004] NSW ADTAP 51 Clancy v Commissioner of Stamps (VIC)(1998) 40 ATR 99 Commissioner of State Taxation (WA) v Smith (1978) 9 ATR 127 Craig Williamson Pty Ltd v Barrowcliff [1915] VLR 450 CASES CITED: Davis v Commissioner of Stamp Duties (NSW) (1995) 30 ATR 405; 95 ATC 4245 Giris Pty Ltd v Federal Commissioner of Taxation (1968) 119 CLR 365 Jeffrey v Commissioner of Stamps (SA) (1980) 23 SASR 398 McDonald's Australia Ltd v Chief Commissioner of State Revenue [2005] NSWSC 6 Newton v Federal Commissioner of Taxation 98 CLR 1 Old Reynella Village Pty Ltd v Commissioner of Stamps (SA) (1989) 51 SASR 378 Pacific General Securities Ltd & Finmore Holdings Pty Ltd v Chief Commissioner of State Revenue (No 2) [2004] NSWADT 74 APPLICANT REPRESENTATION: S Heathwood, agent RESPONDENT I S Young, barrister ORDERS: For the reasons given in this decision, the decision under review is set aside and the matter is remitted to the Commissioner for reconsideration in accordance with this decision, for the Commissioner to: (1) be satisfied under Section 25(2) of the Duties Act 1997 that it would not be just and reasonable to aggregate the subject dutiable transactions under Section 25 in the circumstances of this case; (2) withdraw the reassessment in the notice dated 22 October 2002 under Section 13 of the Taxation Administration Act 1996; (3) issue a notice of the withdrawal of the reassessment in accordance with Section 14(4) of the Taxation Administration Act 1996; (4) refund any amount paid in excess of the original assessments plus if applicable, pay interest in accordance with Sections 104 and 105 of the Taxation Administration Act 1996.