Newham Diamond Leisure Pty Ltd

The High Court of Australia considered an appeal by Newham Diamond Leisure Pty Ltd (the appellant) against the judgment of the Full Federal Court. The dispute concerned the appellant's entitlement to a refund of certain stamp duties paid to the Commissioner of State Revenue (Victoria) (the respondent). The appellant had paid stamp duty on a transfer of shares, which it later sought to have set aside.

The central legal issue before the High Court was whether the appellant was entitled to a refund of stamp duty paid on a transfer of shares that was subsequently declared void ab initio. This involved determining the proper interpretation of the relevant provisions of the *Stamps Act 1958* (Vic) and the common law principles governing the recovery of taxes paid under a mistake of law.

The High Court held that the appellant was not entitled to a refund. Their Honours reasoned that the *Stamps Act* provided a specific scheme for the assessment and payment of stamp duty, and that once duty was paid on a dutiable transaction, it became irrecoverable unless the Act expressly provided for a refund. The Court distinguished the present case from situations where a transaction was void from its inception, noting that the Act did not contemplate a refund in such circumstances, particularly where the duty had been assessed and paid. The common law right to recover money paid under a mistake of law was considered to be displaced by the statutory scheme.

Consequently, the High Court dismissed the appeal.