Smith v Federal Commissioner of Taxation

48 CLR 178

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Smith
v Federal Commissioner of Taxation

Court:

Judges: Gavan Duffy CJ and Evatt J
Rich J
Starke J, Dixon J and McTiernan J

Subject References:
Taxation and revenue
Income tax
Resumption of land
Compulsory sale
Profit distributed as dividend
Dividend not assessable income
Subsequent amending legislation

Legislative References:
Income Tax Assessment Act 1922 (Cth) No 37 - s 16(b)(i)
Income Tax Assessment Act 1930 (Cth) No 50 - s 6(b)
City of Brisbane Improvement Act 1916 (Qld) (7 Geo V No 24) - ss 3, 7, 8, 17

Hearing date: SYDNEY 9 August 1932; 10 August 1932; 18 August 1932;
Judgment date: 18 August 1932

Sydney

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Appeal allowed. Declare that the amount of PD5,275 18s. 5d. received by the appellant by way of dividend from W. R. Smith & Paterson Ltd, is not part of the appellant's assessable income. Assessment discharged and remitted to the Commissioner for reassessment consistently with this declaration. Commissioner to pay the costs of this appeal.