INCOME TAX CASE.
HIGH COURT ARGUMENT.
[By Electric Telegraph—Copyright! [United Press Association.]
London, May 25
In the case, Syrae v. the Victorian Tax Commissioners, in which the High Court ordered five of Byrnes’- beneficiaries to pay a shilling rate for income from property on £17,000 instead of sixpence personal exertion, counsel contended the Act defined that all income derived from any trade was from personal exertion, and appellants were entitled to pay 6d rate on the income from the trade they carried on as trustees.
Mr Moulton, president, remarked that there was nothing in the Act to show that trade must necessarily he carried on by a person receiving an income.
Lord Sumner asked: Do not the words “derived from any trade” mean “carried on by the person who gets the income.” The hearing was adjourned.
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Stratford Evening Post, Volume XXXIX, Issue 30, 27 May 1914, Page 5
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136INCOME TAX CASE. Stratford Evening Post, Volume XXXIX, Issue 30, 27 May 1914, Page 5
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