Federal Commissioner of Taxation v Travelex Limited

HIGH COURT OF AUSTRALIAKIEFEL CJ,GAGELER, KEANE, GORDON AND EDELMAN JJTHE COMMISSIONER OF TAXATION OF THE COMMONWEALTH OF AUSTRALIA  APPELLANTANDTRAVELEX LIMITED  RESPONDENTFederal Commissioner of Taxation v Travelex Limited[2021] HCA 8Date of Hearing: 2 December 2020Date of Judgment: 10 March 2021S116/2020ORDER1.Appeal allowed. 2.Set aside the orders of the Full Court of the Federal Court of Australia made on 14 February 2020 and, in their place, order that:(a)the appeal be allowed; (b)orders 1 and 2 of the orders made by Wigney J on 12 July 2018 be set aside and, in their place, a declaration be made in the following terms: It is declared that in the circumstances no RBA surplus has arisen in relation to the tax period (within the meaning of A New Tax System (Goods and Services Tax) Act 1999 (Cth)) of Travelex Limited for the month of November 2009 and no interest is presently payable by the Commissioner of Taxation of the Commonwealth of Australia to Travelex Limited under the provisions of the Taxation (Interest on Overpayments and Early Payments) Act 1983 (Cth) in respect of that tax period; and(c)Travelex Limited pay the Commissioner of Taxation of the Commonwealth of Australia's costs of the appeal. 3.The appellant pay the respondent's costs of the appeal to this Court. On appeal from the Federal Court of AustraliaRepresentationN J Williams SC and M J O'Meara SC with C M Sievers for the appellant (instructed by Balazs Lazanas & Welch LLP)J O Hmelnitsky SC with L McBride and D P Hume for the...