BOOKMAKER’S INCOME
AN IMPORTANT DECISION. (By Telegraph.—Press Assn.—Copyright). LONDON, March 12. Mr Justice Rowlett, Judge of the High Court, 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. The Judge said that Graham did not go to 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 he accepted the Commissioner’s suggestion that this steady betting constituted a vocation, they would have to face the fact that betting losses must be permitted as an offset against income from other callings, opening the dor to punters to claim for income tax deductions in respect to betting. He held that Graham’s operations were not organised like a bookmaker’s. They could not be classed as a vocation, and he allowed the appeal, with costs.
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Southland Times, Issue 19501, 16 March 1925, Page 7
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154BOOKMAKER’S INCOME Southland Times, Issue 19501, 16 March 1925, Page 7
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