Chief Commissioner of State Revenue v Centro (CPL) Limited [2011] NSWCA 325

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: Chief Commissioner of State Revenue v Centro (CPL) Limited [2011] NSWCA 325 Hearing dates: 8 September 2011 Decision date: 19 October 2011 Before: Giles JA at 1 Macfarlan JA at 3 Sackville AJA at 4 Decision: 1. Appeal allowed. 2. Set aside the orders made by Gzell J on 23 July 2010 and varied on 2 August 2010. 3. In lieu thereof, order that: (a) Centro's summons filed on 16 September 2008 be dismissed; and (b) Centro pay the Commissioner's costs of the proceedings. 4. Centro pay the Commissioner's costs of the appeal. [Note: The Uniform Civil Procedure Rules 2005 provide (Rule 36.11) that unless the Court otherwise orders, a judgment or order is taken to be entered when it is recorded in the Court's computerised court record system. Setting aside and variation of judgments or orders is dealt with by Rules 36.15, 36.16, 36.17 and 36.18. Parties should in particular note the time limit of fourteen days in Rule 36.16.] Catchwords: TAXES AND DUTIES - application to renew an assessment of duty - contract for the sale of a freehold interest subject to a 300 year concurrent lease at a nominal rental - whether grant of concurrent lease had the effect of reducing dutiable value for the purposes of the Duties Act 1997, s 24(1) - whether Chief Commissioner was correct not to be satisfied that the concurrent lease was not granted as a part of an arrangement or scheme for the purpose of reducing the duty otherwise payable Legislation Cited: Income Tax Assessment Act 1936 (Cth) Income Tax Assessment Act 1997 (Cth)