McArdle, J.W. v. The Commissioner of Taxation for the Commonwealth of Australia [1988] FCA 93

a ae.

duvcwicisd bik

15, S%

dereseeetaen 312

CATCHWORDS

INCOME TAX - Assessable income - stock options in employer

company granted to certain employees - surrender by taxpayer of his rights for lump sum payment - whether the lump sum was an allowance given or granted in relation to employment within the meaning of s.26(e) - whether lump sum formed part of taxpayers

gross income from all sources within the meaning of sub.s.25(1).

Income Tax Assessment Act 1936 - sub.s.25(1), s.26(e), s.26AAC.

In the Matter of the Income Tax Assessment Act 1936

AND In the Matter of an appeal thereunder by JOHN WALTER McARDLE

against an assessment of income tax dated the 2nd day of July

1984 for the year of income ended 30th June 1982.

BETWEEN:

JOHN WALTER McARDLE Appellant

- AND - THE COMMISSIONER OF TAXATION FOR THE COMMONWEALTH OF AUSTRALIA

Respondent

FISHER J. ADELAIDE

1IMARCH 1988

ea

ieneeaeae aang eran

—-. me -

IN THE FEDERAL COURT OF AUSTRALIA

) ) SOUTH AUSTRALIA DISTRICT REGISTRY ) No. G2087 of 1987 ) )

GENERAL DIVISION

JUDGE MAKING ORDER WHERE MADE DATE OF ORDER

In the Matter of the Income Tax Assessment Act 1936

AND

In the Matter of an appeal thereunder by JOHN WALTER MNcARDLE against an assessment of income tax dated the 2nd day of July 1984 for the year of income ended 30th June 1982.

BETWEEN:

JOHN WALTER McARDLE

Appellant - and - THE COMMISSIONER OF TAXATION

FOR THE COMMONWEALTH OF AUSTRALIA

Respondent

MINUTES OF ORDER

FISHER J. ADELAIDE lL MARCH 1988

ae oe oe

THE COURT ORDERS THAT:

1.

2.

3.

The appeal be allowed and the appeliant's objection upheld.

The Commissioner do pay to the appellant his costs of the appeal.

The assessment be remitted to the Commissioner for amendment in accordance with the terms of this judgment.

Note: Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.

oo

IN THE FEDERAL COURT OF AUSTRALIA