Taxable and Untaxable
A discussion on examples of taxable and untaxable income provided an interlude during the hearing of a case in the Court of Appeal in Wellington a few days ago. The Chief Justice (Sir Michael Myers) said that if a person won £2OOO in an art union it would not be income for taxation purposes. Mr H. P. Richmond (Auckland), agreeing, said that in that instance the income was a matter. of chance and was not taxable; but if a person placed a bet on the totalizator he was supposed to know the horses and skill entered into it, and therefore something was deducted by way of tax. Mr Justice Northcroft: “What about bookmakers’ profits?” Mr Richmond: “They pay taxation if they can catch them.” Mr Justice Blair: “They make a return for taxation as bookmakers, but the income tax people do not say anything about it.” Winnings at bridge and golf were also cited as cases where persons might have to pay tax.
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https://paperspast.natlib.govt.nz/newspapers/ST19421008.2.28
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Southland Times, Issue 24869, 8 October 1942, Page 4
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166Taxable and Untaxable Southland Times, Issue 24869, 8 October 1942, Page 4
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