Nemkal Investments Pty Ltd v Chief Commissioner of State Revenue [2003] NSWSC 48

New South Wales Supreme Court

CITATION : Nemkal Investments Pty Ltd v Chief Commissioner of State Revenue [2003] NSWSC 48 HEARING DATE(S) : 10/02/03 JUDGMENT DATE : 17 February 2003

JUDGMENT OF : Gzell J DECISION : Assessment revoked. Matter remitted to Defendant for determination in accordance with reasons.

CATCHWORDS : TAXES AND DUTIES - Stamp Duty - Transaction resulting in change in beneficial ownership of land in NSW - No instrument chargeable with ad valorem duty - Dutiable statement to be lodged unless exemption applicable - Exemption if change in beneficial ownership as the consequence of issue of units in a unit trust scheme - No need for identity between issue of units and transaction resulting in change - Sufficient if issue of units a step in the transaction and change a consequence of the issue Stamp Duties Act 1920 LEGISLATION CITED : Duties Act 1997 Taxation Administration Act 1996 Chief Commissioner of Stamp Duties v ISPT Pty Ltd (1998) 45 NSWLR 639 CASES CITED : Halloran v Minister administering National Parks and Wildlife Act (1999) 105 LGERA 405 Reseck v Federal Commissioner of Taxation (1975) 133 CLR 45 Macintosh v Federal Commissioner of Taxation (1979) 25 ALR 557 PARTIES : Nemkal Investments Pty Ltd - Plaintiff Chief Commissioner of State Revenue (NSW) - Defendant FILE NUMBER(S) : SC 3581/01 COUNSEL : Mr F P Carnovale for the Plaintiff Dr H R Sorensen for the Defendant SOLICITORS : Antunes Lawyers for the Plaintiff Crown Solicitor for the Defendant

IN THE SUPREME COURT OF NEW SOUTH WALES EQUITY DIVISION