High Court decides on retention of amounts to cover tax - clarity for liquidators, agents and trustees?

The High Court by a majority of 3:2 in Commissioner of Taxation v Australian Building Systems Pty Ltd (in liq): Commissioner of Taxation v Muller and Dunn as Liquidators of Australian Building Systems Pty Ltd (in liq) (Australian Building Systems P/L) has held that the tax retention authorisation and obligation under s 254 of the Income Tax Assessment Act 1936 (ITAA 36) only arises upon the making of an assessment or deemed assessment, with respect to income, profits or gains derived in their representative capacity.