Federal Court of Australia
a
CATCHWORDS Income tax - Assessable income - Business of development, sub-division and sale of land - When commenced - When land committed to business - Value of land to be deducted in arriving
at profits.
Income Tax Assessment Act, 1936 s.25.
WHITFORDS BEACH PTY. LTD. v. THE COMMISSTONER OF TAXATION FOR THE COMMONWEALTH OF AUSTRALIA
W.A. No. Gl of 1979.
CORAM: Bowen C.J., Morling and Fitzgerald JJ.
Sydney.
25 May, 1983.
2»
IN THE FEDERAL COURT CF AUSTRALIA
WESTERN AUSTRALIA DISTRICT REGISTRY
No. W.A. Gl of 1979.
GENERAL DIVISION
&
ON REMISSION FROM THE FULL COURT CF THE HIGH COURT OF AUSTRALIA
BETWEEN WHITFORDS BEACH PTY. LTD Appellant AND THE COMMISSIONER oF TAXATION FOR THE
COMMONWEALTH OF AUSTRALIA
Respondent
ORDER
JUDGES MAKING ORDER: Bowen C.J., Morling and Fitzgerald Jd.
WHERE MADE: Sydney.
DATE: 25 May, 1983.
THE COURT ORDERS THAT:-—
1. The outstanding questions remitted by the High Court of
Australia involved 1n paragraphs 2, 3, 4 and 5 of the
Judgment and order of Wickham J. of 19 December 1978 be
answered as follows:-
(a) 20 December 1967 was the date at which a business of sub-dividing developing and sellang the subject
land commenced; °
(b) As at 20 December 1967 the whole of the subject
land was committed to such business;
wh
2AM
(c)
(a)
Taxation his costs of this appeal.
The value of the subject land as at 20 Lecember 1967 as agreed between the parties for the purpose of calculating the amounts to be assessed was $3.1
million;
The amended assessments for the years of income ended 36 September 1972, 1973 and 1974 and the assessment for the year of income ended 36 September 1975 be remitted to the Commissioner of
Taxation to be amended in accordance with the
judgment and order of this Court and the agreement of the parties referred to
an paragraph (c).
Whitfords Beach Pty. Ltd. pay to the Commissioner of I 1 I
We try to embed the page this law was scraped from. If the site blocks framing, you still get the link and a local excerpt.
Last checked with source on —
Checking whether the official page can be embedded…
Plain-English simplify of this law: a short summary, key points, and both sides of the argument. Generated on first view via Replicate, then cached. Vote on what helps your study.
No study brief is cached for this law yet. Sign up to generate a plain-English brief.
Sign up to generate