Danvest Pty Ltd & anor v Commissioner of State Revenue [2017] VSCA 382
The issue that arose for determination was whether the respective acquisitions of 30 per cent and 50 per cent interest by Danvest Pty Ltd as trustee for the Gold Age Trust and Bullhusq Pty Ltd, in a Partnership, constituted a ‘transfer of dutiable property’ within the meaning of s.7(1)(a) of the Duties Act 2000.
On 20 December 2017, the Court of Appeal dismissed the Commissioner's appeal against the decision of Croft J in the Victorian Supreme Court. Croft J held that the interest acquired conferred no equitable proprietary interest in the partnership assets and hence no interest in an estate in fee simple.
Read the Supreme Court judgment
Read the Court of Appeal judgment
Note: From 14 June 2018, the Duties Act 2000 has been amended so that a partner in a partnership is deemed to have beneficial ownership of each item of partnership property in the same proportion as their interest in the partnership.
