Supreme Court ASSESSMENT OF TAX
Commissioner Appeals
The hearing by Mr Justice Wilson of an appeal by the Commissioner of Inland Revenue against a Magistrate’s Court decision on the assessment of income for taxation, commenced in the Supreme Court yesterday. The respondent was Gordon Ferguson, for whom Mr P. H. T. Alpers appeared. Mr C. M. Roper appeared for the Commissioner of Inland Revenue. , Mr Roper told his Honour that the case concerned the
assessments of the taxpayer’s income for the years ended March 31, 195., and Maneh 31. 1957.
Ferguson owned a threeacre property in Glenavon terrace, which he subdivided into 14 lots for sale. Profits from this transaction amounted to £ 1847 in the 1956 and £2722 in the 1957 income year. The Commissioner had assessed these as taxable, but the magistrate upheld the taxpayer’s submissions to the contrary. In terms of Section 88 of the Land and Income Tax Act 1954. said Mr Roper, income derived from the sale of real property was taxable if it was the .taxpayer’s business to deal in such property, or if he had acquired it for the purpose of selling it. Ferguson had admitted in evidence that he had been in business as a land dealer since March 1956, but Mr Roper submitted that he had in fact been in business in this regard dating from his purchase of the Glenavon terrace property in February 1955. Mr Alpers submitted that Ferguson had bought the Glenavon terrace property to live in it, and the thoughts*of subdivision and sale came later.
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Bibliographic details
Press, Volume CII, Issue 30230, 7 September 1963, Page 18
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257Supreme Court ASSESSMENT OF TAX Press, Volume CII, Issue 30230, 7 September 1963, Page 18
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