Ozone Manufacturing P/L v Deputy Commissioner of Taxation

(2006) 94 SASR 269; [2006] SASC 91

Supreme Court of South Australia

Built by Barristers,
For Australian Law.

See how it works

Interrogate

Catchwords

1. Corporations
2. › Winding up
3. › Winding up by court
4. › Grounds for winding up
5. › Insolvency
6. › Statutory demand
7. › Application to set aside
8. › Offsetting claim
9. › Whether claim for research and development tax offsets constitutes offsetting claim within s 459H(5)
10. › Whether claim genuine
11. › Corporations Act 2001 (Cth), ss 459E, 459G, 459H
1. Income Tax
2. › Deductions and rebates
3. › Research and development expenditure
4. › Tax offsets under s 73I
5. › Refundable tax offset rules
6. › Whether tax offsets may be applied against Running Balance Account deficit debt
7. › Income Tax Assessment Act 1936 (Cth), s 73I
8. › Income Tax Assessment Act 1997 (Cth), ss 67-25, 67-30, 67-35
1. Taxation
2. › Administration
3. › Running Balance Account
4. › Recovery of RBA deficit debt
5. › Whether statutory regime for recovery of RBA deficit debt precludes offsetting claim
6. › Whether provisions requiring payment of tax notwithstanding appeal apply to RBA deficit debts
7. › Taxation Administration Act 1953 (Cth), ss 8AAZA, 8AAZC, 8AAZD, 8AAZH, 8AAZL, 14ZZM, 14ZZR
1. Practice and Procedure
2. › Judgments and orders
3. › Self-executing orders
4. › Extension of time for compliance with statutory demand
5. › Delayed compliance with undertakings or conditions
6. › Whether order self-executing
7. › Whether order should be set aside in exercise of discretion

Quick Take

A taxpayer served with a statutory demand for an RBA deficit debt may rely on claims for R&D tax offsets as an offsetting claim under s 459H(5) of the Corporations Act 2001 (Cth). The provisions in ss 14ZZM and 14ZZR of the Taxation Administration Act 1953 (Cth), which require payment of tax notwithstanding review or appeal, apply only to taxation decisions (assessments) and do not apply to RBA deficit debts. The decisions in Hoare Bros and Chippendale Printing are confined to the income tax assessment and sales tax regimes respectively and do not extend to RBA deficit debts.