Bondi Beachside Pty Ltd v Chief Commissioner of State Revenue [2013] NSWSC 21

Supreme Court New South Wales

Medium Neutral Citation: Bondi Beachside Pty Ltd v Chief Commissioner of State Revenue [2013] NSWSC 21 Hearing dates: 6 November 2012 Decision date: 30 January 2013 Jurisdiction: Equity Division - Revenue List Before: Gzell J Decision: Assessment including interest in amount secured revoked and matter remitted to Chief Commissioner to assess mortgage duty on principal excluding capitalised interest. Catchwords: TAXES AND DUTIES - Stamp Duties - mortgage duty - charge stamped at $5 on execution as securing no amount - variation deed extending time for payment - whether an advice as a forbearance under s 206(a)(iii) of the Duties Act 1997 - whether charge required to be upstamped under s 208(2) - whether capitalised interest included in amount secured Legislation Cited: Bankruptcy Act 1966 (Cth) Duties Act 1997 Money-lenders and Infants Loans Act 1941-1948 Stamp Duties Act 1920 State Revenue Legislation Further Amendment Act 2009 Taxation Administration Act 1996 Cases Cited: Agricultural and Rural Finance Pty Ltd v Gardiner [2008] HCA 57; (2008) 238 CLR 570 Allianz Australia Insurance Ltd v GSF Australia Pty Ltd [2005] HCA 26; (2005) 221 CLR 568 Bank of New South Wales v Brown [1983] HCA 1; (1983) 151 CLR 514 Baystone Investments Pty Ltd v Commissioner of Stamp Duties (1978) 1 NSWLR 441 Electronic Industries Ltd v David Jones Ltd [1954] HCA 69; (1954) 91 CLR 288 Prime Wheat Association Ltd v Chief Commissioner of Stamp Duties (1997) 42 NSWLR 505 Prudential Mutual Assurance Investment and Loan Association v Curzon (1852) 8 Ex 97; 155 ER 1275 Category: Principal judgment Parties: Bondi Beachside Pty Ltd (First Plaintiff) Bondi Beachside Rebel Pty Ltd (Second Plaintiff) Bondi Beachside Holdings Pty Ltd (Third Plaintiff) Chief Commissioner of State Revenue (Defendant) Representation: Counsel: A Tsekouras (Plaintiffs) S Gibb SC/ M Sealey (Defendant) Solicitors: Baron and Associates (Plaintiffs) Crown Solicitors Office (Defendant) File Number(s): SC 2011/361164