NOT A VOCATION
BETTING TRANSACTIONS.
NOT LIABLE TO TAXATION.
LEGAL DECISION IN ENGLAND
(Per Press Association—CopyrightJ (Received This Day, 9.40 a.m.) LONDON March 12. Mr Justice Rowlett delivered an important judgment upholding the appeal of Alexander Graham against the Income Tax Commissioner’s decision that he was assessable for income derived from betting. Mr Justice Rowlett said that Graham did not go to the races. He betted at starting prices with such shrewdness on a large scale from his own home that substantially it was his only means of livelihood. If his Honor accepted the Commissioner’s suggestion this steady betting constituted a vacation, they would have to face the fact that betting losses must be permitted as an offset against income from other callings, thus opening the door to punters to claim for betting losses.
Mr Justice Rowlett held that Graham’s operations were not organised like those of bookmakers and could not be classed as a vocation. He allowed the appeal with costs.
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Bibliographic details
Ashburton Guardian, Volume XLV, Issue 10350, 13 March 1925, Page 5
Word Count
162NOT A VOCATION Ashburton Guardian, Volume XLV, Issue 10350, 13 March 1925, Page 5
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