LIBEL LOSSES
TO BE DEDUCTED FROM INCOME. PRESS TAXATION PURPOSES. I* Australian Press Association.) SYDNEY, November 21. The Federal High Court delivered an, important' decision oil newspapers when it held that the “Melbourne Herald and Weekly Times” was entitled to deduct from Federal income tax the sum« which it paid as compensation to persons claiming damages for libel, together with the costs, which the Commissioner of Taxes had disallowed.
The Court held that the thing which produced the assessable income was tho thing which exposed the newspaper to the' liability discharged by the 'expenditure. The Taxation Commissioner libel maintained that tho amount described as damages had not been exclusively expended in the production of laSsessable income,
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/HOG19321122.2.13
Bibliographic details
Hokitika Guardian, 22 November 1932, Page 2
Word Count
116LIBEL LOSSES Hokitika Guardian, 22 November 1932, Page 2
Using This Item
The Greymouth Evening Star Co Ltd is the copyright owner for the Hokitika Guardian. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Greymouth Evening Star Co Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in