Hayes v Federal Commissioner of Taxation

96 CLR 47
1956 - 0523B - HCA

Between: Hayes
And: Federal Commissioner of Taxation

High Court of Australia

Fullagar J

Subject References:
Taxation and revenue
Income tax
Assessable income
Gift of shares to former employee
Question of law

Legislative References:
Income Tax and Social Services Contribution Assessment Act 1936 (No 27) - s 6; s 26; s 196

Hearing date: HOBART 16 March 1956
Judgment date: 23 May 1956



Appeal allowed with costs.

Order that assessment be reduced by excluding from appellant's assessable income of the year ended 30th June 1951 the sum of PD3,000 representing the value of shares in Richardson's Meat Industries Ltd received by appellant in that year.