Federal Court of Australia
CATCHWORDS
Income Tax - taxpayer omitted from his return interest on certain investments - whether his de facto wife beneficially entitled to half of investment income - whether legal title determinative - taxpayer also failed to disclose certain moneys appropriated by him from company he controlled - whether money appropriated ~ "deemed dividend" for purposes of 5.108 of Income Tax Assessment
Act 1936 - whether "dividend" part of his assessable income pursuant to s.44(1) of the Act - whether the "dividend" paid "out
of profits derived by Cthe companyJ".
Estoppel - whether taxpayer estopped from raising beneficial entitlement of his de facto wifc - whether Commissioner suffered
detriment - effect of s.170(2)(a) of Act.
Words and Phrases - "out of profits" (3.44(1) of the Act).
Income Tax Assessment Act 1936 ss.44(1), 108, 170. Acts Interpretation Act 1901 s.15AB(1)
Cases on the beneficial entitlement of a third party -
Calverley v. Green (1984) 56 A.L.R. 483
Muschinski v. Dodds (1985) 62 A.L.R. 429
Last v. Rosenfeld (1972) 2 N.S.W.L.R. 923
Stewart Dawson and Company (Victoria) Proprietary Limited v. Federal Commissioner of Taxation (1933) 48 C.L.R. 683
The Countess of Bective v. Federal Commissioner of Taxation (1932) 47 C.L.R. 417
Cases on estoppel -
Con-Stan Industries of Australia Pty. Ltd. v. Norwich Winterthur Insurance Aust.) Ltd. (1986) 60 A.L.J.R. 294
Federal Commissioner of Taxation v. Wade (1951) 84 C.L.R. 105
Conmissioners of Inland Revunue v. Brooks (1915) A.C. 478
Maratime Electric Co. Ltd. v. General Dairies Ltd. (1937) A.C. North West County District Council v. g.1I, Case (Australia) Pty. Ltd. (1974) 2 N.S.W.L.R. 511
Denver Chemical Manufacturing Co. v. Commissioner of Taxation ut.S.W.) (1949) 79 C.L.R. 296
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Cases on the application of ss.44(1), $.108 -
Federal Commissioner of Taxation v. Comber (1986) 64 A.L-R. 451
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