The ATO has issued Decision Impact Statements on the following cases:
- Re Atlantis Holdings Pty Limited in its capacity as trustee of the Bruce James Lyon Family Trust [2012] NSWSC 112 – in this case, the applicant (the trustee) sought judicial advice under s 63 of the Trustee Act 1925 (NSW) concerning certain beneficiary matters. The Commissioner was served with a copy of the summons and challenged the appropriateness of the application. The Court dismissed the summons on the basis that the trustee was not actually seeking advice as to what it should do (as contemplated by s 63) but rather, was seeking a determination of the key issues in its dispute with the Commissioner. The Court noted that such a determination was not within the purview of s 63 and that it would not be appropriate to provide judicial advice on the matters. In its Decision Impact Statement, the ATO said, in appropriate cases, the Commissioner will seek to challenge proceedings commenced by a taxpayer under provisions equivalent to s 63 that agitate the very issues that are central to the correctness or otherwise of an assessment that will be the subject of Pt IVC proceedings.
[LTN 185, 24/9]