Hayes v Federal Commissioner of Taxation
96 CLR 471956 - 0523B - HCA
Between: Hayes
And: Federal Commissioner of Taxation
Judge:
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
Judgment date: 23 May 1956
MELBOURNE
ORDER
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.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
