Federal Court of Australia
CATCHWORDS
TAXATION - whether losses on sale of shares an allowable
deduction - Curran scheme - whether transactions creating those
losses in the course of a share trading business.
Income Tax Assessment Act, 1936 (Cth), s.44(2), s.51.
THE COMMISSIONER OF TAXATION OF THE COMMONWEALTH OF AUSTRALIA v
MARGARET RUTH JOHN.
No. G.510 of 1986.
Bowen C.J. Fox J.
Beaumont J.
21st August, 1987.
Sydney.
IN THE FEDERAL COURT OF AUSTRALIA ) NEW UTH WALES DISTRICT REGISTRY ) No. G510 of 1986
GENERAL DIVISION )
ON APPEAL FROM THE SUPREME COURT OF NEW SOUTH WALES INIST I or I
BETWEEN: THE COMMISSIONER OF
TAXATION OF THE COMMONWEALTH OF AUSTRALIA
Appellant AND: MARGARET RUTH JOHN
Respondent
COURT: Bowen C.J., Fox and Beaumont JJ.
DATE: 21st August, 1987.
PLACE: Sydney.
MINUTE OF ORDERS
THE COURT ORDERS THAT:
1. The appeal be allowed.
2. Set aside the orders made by the Supreme Court; in lieu thereof order that the appeal to the Supreme
Court be dismissed.
3. The respondent pay the costs of the appeal and of
the proceedings below.
NOTE: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.
IN THE FEDERAL COURT OF AUSTRALIA ) NEW SOUTH WALES DISTRICT REGISTRY ) No. G510 of 1986 GENERAL DIVISION )
ON APPEAL FROM THE SUPREME COURT OF NEW SOUTH WALES ADMINISTRATIVE LAW DIVISION
BETWEEN: THE COMMISSIONER OF TAXATION OF THE COMMONWEALTH OF AUSTRALIA
Appellant AND: MARGARET RUTH JOHN
Respondent
CORAM: Bowen C.J., Fox and Beaumont JJ.
DATE: 21st August, 1987. REASONS FOR JUDGMENT
BOWEN C.J.: This is an appeal by the Commissioner of Taxation ("the Commissioner") from a decision of the Supreme Court of New South Wales in its Administrative Law Division. It was held by Yeldham J. that Margaret Ruth John ("the taxpayer") was entitled to a deduction claimed in her return subject to a minor adjustment. The deduction was claimed by the taxpayer as a member of a partnership, The Malindi Trading Co. The partnership was formed on the 14th April, 1977 and the taxpayer was a member, together with nineteen other persons, her
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