NSW Caselaw
Reported Decision: 70 ATR 5052007 ATC 5115
New South Wales Court of Appeal
CITATION: TRUST COMPANY LIMITED v CHIEF COMMISSIONER OF STATE REVENUE [2007] NSWCA 255
HEARING DATE(S): 30 July 2007
JUDGMENT DATE: 24 October 2007
JUDGMENT OF: Mason P at 1; Giles JA at 16; Santow JA at 88
DECISION: Appeal dismissed.
CATCHWORDS: STAMP DUTIES – Whether s24 of the Duties Act 1997 (NSW) applied to a set of property arrangements whereby property consisting of land subject to shorter term existing leases was to be sold but before sale agreement was entered into but after sale was arranged concurrent 99-year leases were entered into in respect of the same land – effect of concurrent 99-year leases as giving rise to new property by way of a reversion expectant upon the 99-year leases and replacing earlier reversion expectant on existing leases or whether subject matter of the agreement for sale was simply land or fee simple over land throughout – arrangement within s24 notwithstanding that it predated the dutiable transaction. - STAMP DUTIES - identifying the dutiable property - whether land as physical property or interest in land - property sold was reversion subject to existing lease. - STATUTES - interpretation - purposive interpretation - Minister's speech in Parliament.
Conveyancing Act 1919, s19 Duties Act 1997 (NSW) s8, s9, s11, s21, s24,s25, s32 Interpretation Act 1987 s21, s33, s34 LEGISLATION CITED: Local Government Act 1919 Real Property Act 1900, s40, s53 Stamps Act 1958 (Vic) State Revenue Legislation Amendment Act 2002
Chelsea Investments Pty Ltd v Federal Commissioner of Taxation (1966) 115 CLR 1 CIC Insurance Ltd v Bankstown Football Club Ltd (1997) 187 CLR 384; 141 ALR 618 City of Rockingham v PMR Quarries Pty Ltd (2001) 118 LGERA 93 Commissioner of State Revenue (Vic) v Bradney Pty Ltd (1996) 34 ATR 233 Commissioner of State Revenue v Pioneer Concrete (Vic) Pty Ltd (2002) 209 CLR 651 Commissioner of Taxes v Camphin (1937) 57 CLR 127 DKLR Holding Co (No 2) Pty Ltd v Commissioner of Stamp Duties (1980) 1 NSWLR 510 DKLR Holding Co (No 2) Pty Ltd v Commissioner of Stamp Duties (1982) 149 CLR 431 CASES CITED: GLG Australia Pty Ltd (2006) 225 ALR 643 Ingram v Inland Revenue Commissioners (2000) 1 AC 293 re Bolton; ex parte Beane (1987) 162 CLR 514 re Lehrer and the Real Property Act 1900 (1960) 61 SR (NSW) 365 Lord Ward v Lumley (1680) 5 H & N 88; 157 ER 1112 Mabo v The State of Queensland (No 2) (1992) 175 CLR 1 Radaich v Smith (1959) 101 CLR 209 Travinto Nominees Pty Ltd v Vlattas (1973) 129 CLR 1 Vopak Terminals Australia Pty Ltd v Commissioner of State Revenue (2004) 12 VR 351 The Wik People v The State of Queensland (1996) 187 CLR 1
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