Nicholas v Federal Commissioner of Taxation [1947] HCA 48

OF AUSTRALIA.

(HIGH COURT OF AUSTRALIA.) Roe hs d ;. - s ; . APPELLANT ;

a axp oe COMMISSIONER Be TAXA * Raspoxpen.

Tax~-Income—Truat in reapect of any income or income-producing assets ue for benefit of unmarried infant children—Settlement— Beneficiaries con- 'of adults and minors—Income Tax Assessment Act 1936-1943 (No. 27 }6—No. 10 of 1943), #. 102 (1) (b). he appellant was the sole trustee of a deed whereby her husband settled 00 shares in a company, as to one-fourth upon trust for her absolutely, nd as to the other three-fourths upon trust until his death to divide the me equally amongst such of his children as should be living at the time he said income being received and upon his death upon trust to divide 'capital amongst his children and their issue as therein mentioned. 'The 'was still alive and had three sons, one of whom was over twenty-one i - yea 'of age and the other two under that age and unmarried during the iS ended 30th June 1943. 'The dividends received during that wt by the appellant from the trust fund were divisible equally between f and the three children, She was assessed as trustee of the settlement 102 (1) (b) of the Income Tax Assessment Act 1936-1943, upon £350, 'of the net income to which the two infant sons were entitled. amount of tax assessed, £325 10s,, was stated in the assessment to be the 'of tax by which the tax actually payable by the settlor on his own 'income was less than the tax which would have been payable by him d received the £350. the assessment as made by the Commissioner was correct.

the Commissioner of Taxation.

Mari Nicholas was the sole trustee of a deed, dated 12th MMI, whereby her husband, David Thomas Nicholas, settled o F. W. Williams & Co. Pty. Ltd., as to one-fourth her absolutely, and as to the other three-fourths

H.C. ov A. 1947. we