Re Atlantis Holdings Pty Limited in its capacity as trustee of the Bruce James Lyon Family Trust [2012] NSWSC 112

Supreme Court New South Wales

Medium Neutral Citation: Re Atlantis Holdings Pty Limited in its capacity as trustee of the Bruce James Lyon Family Trust [2012] NSWSC 112 Hearing dates: 9 February 2012 Decision date: 22 February 2012 Jurisdiction: Equity Division - Duty List Before: Rein J Decision: Applicant's summons dismissed. Catchwords: EQUITY – trusts – trustees – application to court for judicial advice – purpose of s 63, Trustee Act 1925 (NSW) – advice sought by the trustee in effect seeks determination of the key issues in dispute with Commissioner of Taxation under Income Tax Assessment Act 1936 (Cth) – determination of those questions inappropriate for judicial advice under Trustee Act 1925 (NSW) – additional reasons for non-exercise of the discretion considered Legislation Cited: Trustee Act 1925 (NSW) Income Tax Assessment Act 1936 (Cth) Taxation Administration Act 1953 (Cth) Cases Cited: Macedonian Orthodox Community Church St Petka Inc v His Eminence Petar The Diocesan Bishop of Macedonian Orthodox Diocese of Australia and New Zealand [2008] HCA 42; (2008) 237 CLR 66 Platypus Leasing Inc v Commissioner of Taxation (No 3) [2005] NSWSC 388; (2005) 189 FLR 441 Platypus Leasing Inc & Ors v Commissioner of Taxation [2005] NSWCA 399; (2005) 61 ATR 239 Category: Principal judgment Parties: Atlantis Holdings Pty Limited in its capacity as trustee of the Bruce James Lyon Family Trust (applicant) Commissioner of Taxation (interested party) Representation: Counsel: M Richmond SC; C Burnett (applicant) K Stern SC (Commissioner of Taxation) Solicitors: Brown Wright Stein (applicant) Australian Taxation Office Legal Services Branch (Commissioner of Taxation) File Number(s): SC 2011/402144