TAXABLE AND UNTAXABLE
A discussion embracing examples of taxable and untaxable income provided an interlude during the hearing of a case in the Court of Appeal in Wellington. The Chief Justice, Sir Michael Myers, said that if a person won £2000 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 totalisator 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 don't say anvthing about it. Winnings at bridge and golf were also cited as cases where persons might have to pay tax.
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Auckland Star, Volume LXXIII, Issue 236, 6 October 1942, Page 2
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161TAXABLE AND UNTAXABLE Auckland Star, Volume LXXIII, Issue 236, 6 October 1942, Page 2
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