Glenharrow Holdings Limited v Commissioner of Inland Revenue - SC 59/2007

Civil appeal – avoidance of GST under section 76 of Goods and Services Tax Act 1985 – whether the High Court erred in its findings of fact relating to the value of the mining license purchased by the applicant - whether the High Court erred when it concluded that the purchase price for the mining license was grossly inflated – whether the evidence was such that only one conclusion was reasonably open to the Court – whether a substantial miscarriage of justice occurred as a result of incorrect findings of fact – whether, given the High Court finding that the transaction was a genuine arms length agreement, there was a basis for a finding under section 76 that the transaction defeated the scheme and purposes of the Act– whether an open market value should be used when determining GST obligations where a transaction is genuine and at arms length – whether the Court of Appeal erred by conflating the value of a loan used to purchase an asset with the consideration paid – whether the Court of Appeal erred in its approach to determining the total consideration – whether it was open to the Court of Appeal to make a finding that the loan repayments amounted to an ‘ empty obligation’ – whether the Court of Appeal erred in its application of Peterson v CIR [2006] 3 NZLR 433CA 192/05 15 August 2007