Panthers Investment Corporation Pty Ltd v Chief Commissioner of State Revenue [2013] NSWSC 25

Supreme Court New South Wales

Medium Neutral Citation: Panthers Investment Corporation Pty Ltd v Chief Commissioner of State Revenue [2013] NSWSC 25 Hearing dates: 15 November 2012 Decision date: 30 January 2013 Jurisdiction: Equity Division - Revenue List Before: Gzell J Decision: Exemptions not available. Assessments of Chief Commissioner of State Revenue confirmed with costs. Catchwords: TAXES AND DUTIES - Land Tax - Penrith Rugby League Club (Panthers) transferred its lands to two purchasers, the former company in which it held all the shares, the latter the trustee of a unit trust - whether the land was owned by or in trust for any person and used or occupied solely as a site for a building owned and solely occupied by a club not carried on for pecuniary profit within s 10(1)(g)(iii) of the Land Tax Management Act 1956 - whether the land was owned by or in trust for any club and used primarily and principally for the purposes of any game or sport and not for the pecuniary profit of members of the club within s 10(1)(h) of the Act - agreements provided Panthers had full economic benefit of the land transferred - lands leased back to Panthers by new owners - whether Panthers entitled in equity to the lands for any estate of freehold in possession within par (a)(i) of the definition of "owner" in the Act - whether Panthers entitled to receive the rents and profits of the lands if sublet by it within par (a)(ii) of the definition Legislation Cited: Land Tax Management Act 1956 Cases Cited: Chief Commissioner of Land Tax v Macary Manufacturing Pty Ltd [1999] NSWCA 471; (1999) 48 NSWLR 299 CPT Custodian Pty Ltd v Commissioner of State Revenue (Vic) [2005] HCA 53; (2005) 224 CLR 98 Glenn v Federal Commissioner of Land Tax [1915] HCA 57; (1915) 20 CLR 490 Harmer v Federal Commissioner of Taxation [1989] FCA 432; (1989) 91 ALR 550 Karingal 2 Holdings Pty Ltd v Commissioner of State Revenue [2002] VSC 431; (2002) 51 ATR 190 Lygon Nominees Pty Ltd v Commissioner of State Revenue [2007] VSCA 140; (2007) 23 VR 474 Category: Principal judgment Parties: Panthers Investment Corporation Pty Ltd (First Plaintiff) Panthers Property Management Pty Ltd (Second Plaintiff) Chief Commissioner of State Revenue (Defendant) Representation: Counsel: B Coles QC/ A Smith (Plaintiffs) J Kirk SC/ E Bishop (Defendant) Solicitors: John de Mestre & Co (Plaintiffs) Crown Solicitors Office (Defendant) File Number(s): SC 2010/424706