Foster Brewing Co Ltd v Federal Commissioner of Taxation [1916] HCA 87; (1916) 22 CLR 288 (25 October 1916)

HIGH COURT OF AUSTRALIA

H C of A

25 October 1916

Griffith C.J., Barton, Isaacs, Gavan Duffy and Rich JJ.

Mann, for the appellant.

Starke (with him Morley), for the respondent.

Griffith C.J.

We are all agreed that the fact that in the profit and loss accounts the dividends paid were debited against the gross sums made up of the net profits of the preceding half-years together with the balances brought forward from the previous periods is not conclusive on the question whether the dividends have been paid out of income or not. Whether the dividends have been so paid is a question of fact which will be determined by the Justice who will hear the appeal.

Question answered in the negative. Case remitted. Costs to be costs in the appeal.

Appeal allowed with costs.

Solicitors for the appellant, Pavey, Wilson & Cohen.

Solicitor for the respondent, Gordon H. Castle, Crown Solicitor for the Commonwealth.

H C of A

25 October 1916

Griffith C.J.

Mann, for the appellant.

Starke (with him Morley), for the respondent.

Griffith C.J.

We are all agreed that the fact that in the profit and loss accounts the dividends paid were debited against the gross sums made up of the net profits of the preceding half-years together with the balances brought forward from the previous periods is not conclusive on the question whether the dividends have been paid out of income or not. Whether the dividends have been so paid is a question of fact which will be determined by the Justice who will hear the appeal.

Question answered in the negative. Case remitted. Costs to be costs in the appeal.

Appeal allowed with costs.

Solicitors for the appellant, Pavey, Wilson & Cohen.

Solicitor for the respondent, Gordon H. Castle, Crown Solicitor for the Commonwealth.