Perrott v Deputy Federal Commissioner of Taxation (New South Wales)

40 CLR 450

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(Decision by: Higgins J)

Perrott
v Deputy Federal Commissioner of Taxation (New South Wales)

Court:

Judges: Knox CJ
Isaacs J

Higgins JStarke J

Subject References:
Taxation and revenue
Income tax
Buying and selling land
Money paid in installments

Legislative References:
Income Tax Assessment Act 1915 (Cth) No 34 - ss 3; ss 10

Hearing date: SYDNEY 1 May 1925
Judgment date: 1 May 1925

Sydney

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Decision by:
Higgins J

I am of the same opinion. The fact that a man is a grazier does not prevent him from entering into the business of land-jobbing, if he wish to do so; and if originally the appellant intended to live on part of this property and to work it, he changed that intention. This transaction was not a change of investment; and the profit here in question is profit made from the business of land-jobbing.