North Australian Pastoral Co Ltd v. Federal Commissioner of Taxation
71 CLR 623Pagels
v. Macdonald
Judge:
Dixon J
Subject References:
Taxation and revenue
Income tax
Assessment
Exemption
Primary production
Pastoral company
Rebate on dividends
Legislative References:
Income Tax Assessment Act 1936 No 27 - ss 23(m); ss 46(3)
Judgment date: 19 June 1946
Melbourne
Allow the appeals with costs. Declare that within the meaning of s. 23 (m) the appellant company was a resident of the Northern Territory of Australia during each of the years of income ended 30th June 1940, 1941, 1942 and 1943. Declare that the principle upon which the deduction of fifty-three pounds pursuant to s. 46 (3) of the Income Tax Assessment Act 1936-1944 in arriving at the rebate in the assessment for the financial year ended 30th June 1944 is estimated and made is erroneous and that the sum is excessive. Remit the ordinary assessments upon the appellant company for the financial years ended 30th June 1941, 1943 and 1944 for re-assessment in conformity with the foregoing declarations. Quash the assessment No. 8711 of 28th July 1944 based on the year of income ended 30th June 1942 of the aggregate additional amount of tax for which the appellant company was alleged to be liable under Part III., Division 7, of the Income Tax Assessment Act 1936 as amended.