Federal Court of Australia
sane tH
be.
* CATCHWORDS
INCOME TAX — Assessable income — Dividend paid by company limited by guarantee without a share capital - Whether dividend a return of capital or distribution
of profits within para 44(1) (a) of the Income Tax
" ABsessmene Act 1936 — Whether para. 44(1) (a) applies
oniy to revenue profits.
- Income Tax Assessment Act 1936 ss. 6, 44, 47.
SLATER HOLDINGS" LIMITED v. THE COMMISSTONER' OF TAXATION ° FOR THE COMMONWEALTH OF AUSTRALIA
Wo. G 175 of 1981
5 MAY, 1983
AT SYDNEY MCGREGOR, LOCKHART & FITZGERALD JJ,
"a
IN THE FEDERAT; COURT OF AUSTRALIA )
) WEW SOUTH WALES DISTRICT REGISTRY }) No. G 175 of 1981
) GENERAL DIVISION )
* ON APPEAT;, FROM THE SUPREME COURT "OF NEW SOUTH WALES
BETWEEN: SLATER HOLDINGS LIMITED
Appellant
AND: THE COMMISSIONER OF TAXATION FOR ° THE COMMONWEALTH OF AUSTRALIA
Respondent
ORDERS
JUDGE MAKING ORDERS: MCGREGOR, LOCKHART & FITZGERALD JJ.
DATE OF ORDER: 5 MAY 1983
WHERE MADE: SYDNEY
' THE' COURT ORDERS' THAT:~-
1. The appeal be allowed.
2. The Orders of the Supreme Court of New South Wales of 5 November 1981 be set aside except insofar as they order the appellant to pay the respondent's
costs of the initial hearing before that Court,
ey
2.
The amended assessment number 33.143/70 issued on 10 August 1971 be remitted to the respondent so that it may be amended accordingly. /
The respondent pay the appellant's costs of this
appeal.
IN THE FEDERAL COURT OF AUSTRALIA
) ) NEW SOUTH WALES DISTRICT REGISTRY ) No. G 175 of 1981 ) )
GENERAL DIVISION
ON APPEAL FROM THE SUPREME COURT OF NEW SOUTH WALES
BETWEEN : SLATER HOLDINGS LIMITED Appellant AND: THE COMMISSIONER OF TAXATION
FOR THE COMMONWEALTH OF AUSTRALIA
Respondent
CORAM: McGregor, Lockhart and Fitzgerald JJ.
Date: 5 May 1983
REASONS FOR JUDGMENT
McGregor J.
SLATER HOLDINGS LIMITED (""appellant") appeals from a
decision of the Supreme Court of New South Wales which had held that a so .called dividend received by it from OGG HOLDINGS LIMITED ("Ogg Holdings") was assessable income. The history of
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