G Global 120e T2 Pty Ltd as trustee for the G Global 120e Aut v Commissioner of State Revenue

The High Court of Australia considered an appeal by G Global 120e T2 Pty Ltd, as trustee for the G Global 120e Aut (the taxpayer), against a decision of the Supreme Court of Victoria. The dispute concerned the Commissioner of State Revenue's assessment of stamp duty on a transaction involving the transfer of units in a trust. The taxpayer argued that the transaction was not dutiable, while the Commissioner contended it was.

The central legal issue before the High Court was whether the transfer of units in the G Global 120e Aut trust constituted a "dutiable transaction" under the *Duties Act 2000* (Vic). Specifically, the court had to determine if the transaction fell within the definition of an "acquisition of dutiable property" or if it was otherwise subject to stamp duty as a dutiable transaction.

The High Court reasoned that the *Duties Act* defines dutiable property broadly to include interests in trusts. The court found that the transfer of units in the trust represented an acquisition of an interest in dutiable property, thereby triggering the stamp duty provisions. The court applied the principles of statutory interpretation, focusing on the plain meaning of the words used in the *Duties Act* and relevant case law concerning the nature of unit trusts and their underlying property. The court concluded that the transaction was indeed a dutiable transaction.

The High Court dismissed the taxpayer's appeal, upholding the Commissioner's assessment of stamp duty.