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Athanasios Fagridas & Ors v Commissioner of State Revenue [2018] VSC 145

Background

This proceeding was the Taxpayers’ application for leave to appeal from the earlier decision of the Tribunal to the Supreme Court. It concerned a transfer by a mortgagee in possession under s 77 of the Transfer of Land Act 1958 of the relevant property to the Taxpayers (Disputed Transfer). The primary issue in dispute was whether the Disputed Transfer was exempt from duty as property passing to beneficiaries of a discretionary trust pursuant to s 36A of the Duties Act.

Decision

On 29 March 2018, the Court found in favour of the Commissioner, refusing the Taxpayers’ application for leave to appeal from the decision of the Tribunal. Broadly, the Court confirmed the Assessment, having found no legal error in the Tribunal’s finding that the Disputed Transfer was not exempt from duty under:

  1. s 36A of the Duties Act, whether on its own terms or by applying s 36C of the Duties Act, as property passing to beneficiaries of discretionary trusts, or
  2. s 17 of the Duties Act as double duty.

 

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