Georgopoulos v Chief Commissioner of State Revenue [2010] NSWADT 97

CITATION: Georgopoulos v Chief Commissioner of State Revenue [2010] NSWADT 97

DIVISION: Revenue Division

APPLICANT Victoria Georgopoulos PARTIES: RESPONDENT Chief Commissioner of State Revenue

FILE NUMBER: 096082

HEARING DATES: 2 November 2009

SUBMISSIONS CLOSED: 2 November 2009

DATE OF DECISION: 19 April 2010

BEFORE: Hole M - Judicial Member

CATCHWORDS: Dutiable value of dutiable property, transfer of property to oneself

The Duties Act 1997 (NSW) LEGISLATION CITED : Conveyancing Act 1919 Property Law Act 1974 (Qld)

Stewart v Hawkins (1958) 60 SR (NSW) 104 CASES CITED: Leonard v Federal Commissioner of Taxation (1919) 26 CLR 175 Browne & Jeon v Commissioner of State Revenue [2002] QCA 388

APPLICANT Victoria Georgopoulos REPRESENTATION: RESPONDENT Chief Commissioner of State Revenue

ORDERS: 1.The decision of the Chief Commissioner of State Revenue under review is confirmed.

REASONS FOR DECISION

1 The applicant seeks a review of the decision of the respondent dated 15 January 2009 to assess duty under The Duties Act 1997 (NSW) ("the Duties Act"). That decision was to charge the applicant as a purchaser full ad valorem stamp duty on a value of $1,650,000.00 (sale of land) and $149,000.00 (sale of business) pursuant to section 21 of the Duties Act.

Facts

2 Prior to 23 September 2008 the applicant was a registered proprietor of part of a parcel of land as a tenant in common with Philip Sclavos. Lauriston & Marsden Pty Limited ("the company") was the registered proprietor of the other part of the parcel of land. The applicant was the holder of half of the shares in the company and Philip Sclavos the holder of the other half of the shares. A business ("the business") was operated on the parcel of land, and that business was an asset of an informal partnership between the applicant and Philip Sclavos. The business was operated by Arristo Pty Ltd, of which the applicant was an equal shareholder with Philip Sclavos.