Federal Court of Australia
et
a
JUDGMENT No, . 598/87...
'. CATCHWORODS
INCOME TAX - Allowable deductions - residence purchased by family trust of which taxpayer is trustee - purchase financed by mortgage - residence leased by trust to beneficiary at commercial rent - rent included in trustee's assessable income - deduction claimed for mortgage interest by trustee - "negative gearing" - whether interest payments of "private or domestic nature" - whether payments to be apportioned as partly deductible - s.260
has no application where deduction "truly allowable under 5.51".
COMMISSTONER OF TAXATION OF THE COMMONWEALTH OF AUSTRALIA
Appellant
- and -
JANMOR NOMINEES PTY. LTD. (AS TRUSTEE OF THE J. REDMAN FAMILY
TRUST)
Respondent
No. VG 386 of 1986 No. VG 387 of 1986
CORAM: Fisher, Lockhart and Jenkinson JJ.
17 September 1987
Melbourne
Trey
ee
fed
VICTORIA DISTRICT REGISTRY
GENERAL DIVISION
IN_THE FEDERAL COURT OF AUSTRALIA
) ) ) No.VG 386 of 1986 ) NO.VG 387 OF 1986 )
ON APPEAL FROM THE. SUPREME COURT OF VICTORTA
BETWEEN:
COMMISSTONER OF TAXATION OF THE COMMONWEALTH OF AUSTRALIA
Appellant
- and -
JANMOR NOMINEES PTY. LTD. (AS TRUSTER OF THE J. REDMAN FAMILY
TRUST)
Respondent
MINUTE OF ORDER
JUDGES MAKING ORDER WHERE MADE
DATE OF ORDER
THE COURT ORDERS THAT:
FISHER, LOCKHART & JENKINSON JJ. MELBOURNE 17 SEPTEMBER 1987
1. Leave be granted to the Commissioner of Taxation of the
Commonwealth of Australia to appeal from the judgment of
the Supreme Court
October 1986.
2. The appeal be dismissed.
of- Victoria -herein handed down -17
ae
weer.
ceo
3 ono
oe
2. 3. The Commissioner do pay to the respondent its costs of the appeal including the costs reserved to this Court by Jenkinson J. of the Notice of Motion of 18 February
1987. -
Note: Settlement and entry of orders is dealt with in Order 36 of
the Federal Court Rules.
Soo ai anepene ne
Pay
an
se esceror
w
»
IN THE FEDERAL COURT OF AUSTRALIA
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