BENSON & JEFFREYS

In the matter of Benson & Jeffreys, the Supreme Court of Tasmania, presided over by Macmillan J, considered a dispute between the applicant, Benson & Jeffreys, and the respondent, the Commissioner of Stamp Duties. The core of the disagreement concerned the assessment of stamp duty on a transaction involving the transfer of shares.

The primary legal issue before the court was whether the transaction constituted a "conveyance" or "transfer" of property for the purposes of the Stamp Duties Act 1931 (Tas). Specifically, the court had to determine if the transfer of shares in a company, where the company itself was the beneficial owner of certain land, fell within the scope of dutiable transactions under the Act.

Macmillan J reasoned that the Stamp Duties Act defined "conveyance" broadly to include any instrument by which beneficial interest in property was transferred. While the shares themselves were being transferred, the court found that the transaction effectively transferred the beneficial ownership of the underlying assets of the company, including the land. Therefore, the transfer of shares was deemed to be a dutiable conveyance.

The court ordered that stamp duty was payable on the transaction as a conveyance.