Recent Cases

Stern v Commissioner of Taxation [2024] FCAFC 21 (01 March 2024) (Thawley, Hespe and Horan JJ)


Catchwords:


SUPERANNUATION – Div 294 of the Income Tax Assessment Act 1997 (Cth) – whether defined benefit lifetime pension excluded from calculation of excess transfer balance – reliance on Guide in determining purpose or object underlying operative provisions – contended purpose not supported by statutory text – s 294-140 neither ambiguous nor manifestly absurd or unreasonable – held: s 294-140 should be construed in accordance with words in fact used

STATUTORY CONSTRUCTION – whether s 294-140 of the Income Tax Assessment Act 1997 (Cth) means what it says or should be construed in accordance with a contended purpose not evident from the statutory language used – held: s 294-140 means what it says