Appeal to Australian High
p. 10 · Read in the full issue
Land Transfer Tax
Appeal to Australian High Court
;. From Our Own Correspondent.
Rabaul, Oct. 1.
A MATTER which is causing consider able interest in business circles is that known as the Stamp Duty case, which arises out of the amount of assess ment made by the Treasurer of the Ad ministration on a deed of transfer of land, consisting of Kalili plantation, and which came before the Supreme Court on July 23. The verdict affects a very large number of similar transfers.
The plaintiff company (New Britain Plantations Ltd., represented by Mr. R.
A. Ollerenshaw) appealed against the assessment, which covered former trans fers of the property.
Judge Phillips gave a verdict in favour of the Treasurer. The plaintiff company made application to the High Court of Australia to appeal against the Supreme Court decision. Leave to appeal has now been granted, and it is expected that the case will be heard some time this month in Australia.
In this case, it is interesting to note, the fluctuation of plantation values. The Kalili estate was first transferred from the Custodian to Mirow, for a considera tion of £73,500; later, from Mirow to Jolley, for £100,450; and, lastly, from Jolley to New Britain Plantations Ltd. for £47,802. The property is one with 140,000 coconut palms planted.