Brookton Co-operative Society Limited v. Federal Commissioner of Taxation.
Judges: Brennan JDeane J
Fisher J
Court:
Federal Court of Australia
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.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
