A Full Court of the High Court in Canberra on Tue 4.11.2014 also began hearing the Commissioner of State Revenue’s appeals against the Victorian Court of Appeal decision in Lend Lease Development Pty Ltd & Ors v Comr of State Revenue [2013] VSCA 207. The Court of Appeal had allowed the appeal of the 3 taxpayers (property developers) against an earlier decision which had affirmed stamp duty assessments issued under the Duties Act 2000 (Vic).
The issue concerned whether certain amounts paid by the taxpayers to VicUrban (the vendor) in respect of infrastructure and construction works pursuant to contractual arrangements made under certain development agreements formed part of the consideration for the transfer of the subject land under s 20(1) of the Duties Act.
[LTN 213, 4/11/14]