Buzza v Comptroller of Stamps (Victoria)

83 CLR 286
1951 - 0427A - HCA

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(Judgment by: Webb J)

Between: Buzza
And: Comptroller of Stamps (Victoria)

Court:

Judges: Latham CJ
Dixon J
McTiernan J
Williams J

Webb JFullagar J

Subject References:
Taxation and revenue
Stamp duties
Deed of settlement
Agreement varying trusts of will
Extent of property settled

Legislative References:
Stamps Act 1946 (Vic) No 5204 - s 17; Third Schedule

Hearing date: Melbourne 14 March 1951; 15 March 1951
Judgment date: 27 April 1951

Sydney

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Judgment by:
Webb J

I would dismiss this appeal.

I think the judgment of Sholl J. was right and for the reasons given by his Honour.  I agree with his Honour that the whole of the residue was settled by the beneficiaries and that there was no pecuniary consideration moving to or from any party or person.  There was a settlement extending to the whole of the residue because, to employ his Honour's words in adopting the argument of counsel for the comptroller, the deed "constitutes a new charter.  The widow now has a right to the whole income of the freehold properties; the trust for conversion of the freeholds has gone; the widow has a right to a minimum payment of PD340 per annum, with a new right to resort to the corpus of the freeholds: the trustee's discretion to sell the residence has gone; and the widow has an assured right in respect of it during widowhood.  The children, on the other hand, have an immediate right to receive from the trustee the whole of the corpus apart from the freeholds and to get the freeholds at the widow's death or remarriage.  All this is effected by the machinery of a trust".