Case
Commissioner of State Revenue v State Revenue v Placer Dome INC (now an amalamated entity named Barrick Gold Corporation) [2018] HCA 59.
Decision
On 5 December 2018, the High Court of Australia unanimously allowed an appeal and upheld an assessment by the Commissioner of State Revenue that Placer Dome Inc. was a listed landholder corporation within the meaning of the Stamp Act 1921. As a result, it found that Barrick Gold Corporation was liable to pay ad valorem duty on its acquisition of Placer Dome.
The judgment and all supporting documentation is available from the High Court of Australia.
The wider implications of the decision are being examined and the Commissioner will contact taxpayers who have matters affected by the decision. Updates to rulings and Commissioner’s practices will be published early next year.
