Visy Kraft Holdings Pty Limited v Chief Commissioner of State Revenue [2017] NSWSC 8

Supreme Court New South Wales

Medium Neutral Citation: Visy Kraft Holdings Pty Limited v Chief Commissioner of State Revenue [2017] NSWSC 8 Hearing dates: 7 and 8 March 2016 Decision date: 30 January 2017 Jurisdiction: Equity - Revenue List Before: White J Decision: 1. Order that the defendant's assessment dated 2 September 2013 made pursuant to s 297 of the Duties Act be confirmed; 2. Order that the plaintiff's summons be dismissed; 3. Order that the plaintiff pay the defendant's costs. Catchwords: TAXES AND DUTIES – Mortgage duty – Duties Act 1997 ss 213 and 215 – Application of State Revenue Legislation Further Amendment Act 2009 – Application of changes to mortgage duty provisions, cl 76 of Schedule 1 – Refinancing using a "deferred purchase price loan structure" – Whether 2009 amendments applied - Whether unsecured advance made under an agreement, arrangement or understanding for which mortgage was security (s 213) – Whether mortgage capable of being used to recover an amount contingently payable in connection with an advance by a guarantor (s 215) – Assessment confirmed Legislation Cited: Duties Act 1997 (NSW) State Revenue Legislation Further Amendment Act 2009 Cases Cited: Prime Wheat Association Ltd v Chief Commissioner of State Revenue (1997) 42 NSWLR 505 Bondi Beachside v Chief Commissioner of State Revenue (2014) 85 NSWLR 443 Category: Principal judgment Parties: Visy Kraft Holdings Pty Limited (Plaintiff) Chief Commissioner of State Revenue (Defendant) Representation: Counsel: T Grace (Plaintiff) M Richmond SC with M Sealey (Defendant)