ACN 154 520 199 Pty Ltd (in liquidation) v Commissioner of Taxation [2020] FCAFC 190

Appeal from: ACN 154 520 199 Pty Ltd (In Liq) and Commissioner of Taxation (Taxation) [2019] AATA 5981

TAXATION – goods and services tax – precious metal – creditable acquisitions – creditable purpose – whether the taxpayer’s supply of gold to dealers was GST-free or input taxed – where the taxpayer acquired gold that was already of 99.99% fineness, but not in investment form, and therefore not “precious metal” as defined – where the taxpayer processed and sold the gold to dealers in “precious metal” form – whether the taxpayer’s supply of gold to dealers was the “first supply of that precious metal after its refining by ... the supplier” and therefore GST-free – construction of “refining” – construction of the “first supply” requirement for a GST-free supply of precious metal

ADMINISTRATIVE LAW – procedural fairness – where the Tribunal made adverse knowledge findings on the basis of two emails and the transcript of a compulsory examination that had not been the subject of any cross-examination or any submissions by the parties – whether the Tribunal denied the taxpayer procedural fairness – whether any denial of procedural fairness was material

TAXATION – goods and services tax – anti-avoidance provisions – where the Tribunal found (in the alternative to its conclusion regarding construction) that the anti-avoidance provisions applied – whether the Tribunal erred in its approach to the anti-avoidance provisions, in particular the issues of dominant purpose and principal effect

Full decision here