Valuer-General v Perilya Broken Hill Ltd [2013] NSWCA 265

Court of Appeal Supreme Court New South Wales Medium Neutral Citation: Valuer-General v Perilya Broken Hill Ltd [2013] NSWCA 265 Hearing dates: 23 July 2013 Decision date: 16 August 2013 Before: Emmett JA at [1]; Leeming JA at [12]; Preston CJ of LEC [110] Decision: (1) Appeal allowed. (2) Set aside the orders of the Land and Environment Court of 19 October 2012. (3) Remit the proceedings to the Land and Environment Court for determination by that Court in accordance with the decision of this Court. (4) There be no order as to 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: APPEALS - appeal from valuation decision limited to question of law - scope of appeal - error of law in failure to bring to account cashflow - no error of law in arithmetic error

COURTS AND JUDGES - statement of reasons for decision - appeal limited to question of law - extent of duty to give reasons - no error in giving short reasons

MINES AND MINERALS - operation and history of mining legislation - nature of rights conferred by mining lease - nature of rights of owner of privately owned minerals

VALUATION - methods of valuation - hypothetical fee simple of mine - valuation by discounted cashflow of hypothetical mine - application of royalty provisions in Mining Act 1992 as generally applicable public law - parties' cashflows included royalty payments as expenses but did not include receipts of royalty for privately owned minerals - valuation set aside and proceeding remitted Legislation Cited: Land and Environment Court Act 1979 Land and Income Tax Assessment Act 1895 Land Tax Assessment Act 1910 (Cth) Mining Act 1906 Mining Act 1973 Mining Act 1992 Mining on Private Lands Act 1894 Valuation of Land Act 1916 Cases Cited: AMP Henderson Global Investors v Valuer General [2004] NSWCA 264; (2004) 134 LGERA 426 Archibald v Byron Shire Council [2003] NSWCA 292; (2003) 129 LGERA 311 Boland v Yates Property Corporation Pty Ltd [1999] HCA 64; (1999) 74 ALJR 209 Brisbane City Council v Valuer-General for the State of Queensland (1978) 140 CLR 41 Cadia Holdings Pty Ltd v State of New South Wales [2010] HCA 27; (2010) 242 CLR 195 Chief Commissioner of State Revenue v Platinum Investment Management Ltd [2011] NSWCA 48; (2011) 80 NSWLR 240 Colon Peaks Mining Co v Wollondilly Shire Council (1911) 13 CLR 438 Federal Commissioner of Taxation v St Helens Farm (ACT) Pty Ltd (1981) 146 CLR 336 Gollan v Randwick Municipal Council [1961] AC 82 ISPT Pty Ltd v Valuer General [2009] NSWCA 31; (2009) 165 LGERA 25 Maurici v Chief Commissioner of State Revenue [2003] HCA 8; (2003) 212 CLR 111 Melwood Units Ltd v Commissioner of Main Roads [1979] AC 426 Moolarben Coal Mines Pty Ltd v Director-General of the (former) Department of Industry and Investment NSW (Agriculture Division) [2011] NSWLEC 191; (2011) 186 LGERA 342 Perilya Broken Hill Ltd v Valuer-General [2012] NSWLEC 235 Perpetual Trustee Co Ltd v Valuer-General [2008] SASC 169; (2008) 101 SASR 110 Piglowska v Piglowski [1999] UKHL 27; [1999] 1 WLR 1360 Resource Pacific Pty Ltd v Wilkinson [2013] NSWCA 33 Roads and Traffic Authority v Hurstville City Council [2001] NSWCA 11; (2001) 112 LGERA 223 Roads and Traffic Authority v Mosca [2006] NSWCA 159; (2006) 146 LGERA 335 Royal Sydney Golf Club v Federal Commissioner of Taxation (1955) 91 CLR 610 Soulemezis v Dudley (Holdings) Pty Ltd (1987) 10 NSWLR 247 Taupau v HVAC Constructions (Queensland) Pty Ltd [2012] NSWCA 293 Ulan Coal Mines v Minister for Mineral Resources [2008] NSWCA 174; (2008) 161 LGERA 391 Valuer-General v New South Wales Golf Club [2012] NSWCA 355; (2012) 192 LGERA 105 Wade v New South Wales Rutile Mining Co Pty Ltd (1969) 121 CLR 177 Waterways Authority v Fitzgibbon [2005] HCA 57; (2005) 79 ALJR 1816 Whitehouse Properties Pty Ltd v Bond Brewing (NSW) Ltd (1992) 28 NSWLR 17 Yates Property Corporation Pty Ltd (in liq) v Darling Harbour Authority (1991) 24 NSWLR 156 Category: Principal judgment Parties: Valuer-General (Appellant) Perilya Broken Hill Ltd (Respondent) Representation: Counsel: TS Hale SC; M Carpenter (Appellant) R Lancaster SC; L Thomas (Respondent) Solicitors: Crown Solicitor's Office (Appellant) Sparke Helmore Lawyers (Respondent) File Number(s): 2012/345737 Decision under appeal Citation: Perilya Broken Hill Limited v Valuer-General [2012] NSWLEC 235 Date of Decision: 2012-10-19 00:00:00 Before: Lloyd AJ File Number(s): 2011/30076