INCOME TAX
PRIVY COUNCIL APPEAL CASE SYME ESTATE ""PERSONAL EXERTION." (By Telegraph.— Press Association.— Copyright.) (Received May 26, 9 a.m.) LONDON, 25th May. In the Privy Council appeal case Symo versus the Victoi'ian Tax Commissioners, in which the High Court ordered five of the late Sir David Syme'fi beneficiaries to nay a shilling rate for incomd from property on £17,000 instead of sixpence in the pound for "personal' exertion," counsel contended that the Act defined that all income derived from any trade was from personal exertion. Apoellants were entitled to a sixpenny rate op tho income from the trade they carried on as trustees. Lord Moulton, the President, remarked that there was nothing in the Act to show that a trade must nece&sarily be carried on by the person receiving the income. Lord Sunnier asked : "Do not the words 'derived from any trade 1 mean earned on by the person who gets the income?" The further hearing of the case was adjourned. v
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Bibliographic details
Evening Post, Volume LXXXVII, Issue 123, 26 May 1914, Page 7
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163INCOME TAX Evening Post, Volume LXXXVII, Issue 123, 26 May 1914, Page 7
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