Brookton Co-operative Society Limited v. Federal Commissioner of Taxation.

Judges: Brennan J

Deane J
Fisher J

Court:
Federal Court of Australia

Judgment date: Judgment handed down 1 May 1979.

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Deane J.: The context in which these appeals fall to be determined appear from the judgments of Brennan J., and Fisher J., which I have had the benefit of reading.

On the principal point involved in the appeals, namely whether the taxpayer company was a ``co-operative company'' within the definition contained in sec. 117 of the Income Tax Assessment Act 1936 during the relevant years, I agree with Fisher J.'s conclusion that it was not and with his reasons for that conclusion.

On the subsidiary point, namely whether the amount of the interim dividend of $47,914.97 purportedly ``declared'' by the directors of Tunwin Pty. Ltd. (``Tunwin'') in favour of the taxpayer should properly have been included in the taxable income of the taxpayer of the year ended 30 June 1973, I agree, for the reasons which he gives, with the conclusion of Brennan J., that it should not.

I agree with the orders proposed by Brennan J.