PENALTY OF £11,050 IMPOSED IN SYDNEY ON TAX DEFAULTER
Melbourne, Oct. 6
A Court penalty and fines totalling £11,500 were imposed by Mr. Justice O'Brien in the Civil Court today on David Galt, flock manufacturer and investor, for under-statements amounting to £24,239 in taxation returns from 1922 to 1944. Superimposed on the Court penalties is £13,000 which Gall must pay in taxation avoided in those years. The parties disclosed in Court that the Taxation Commissioner in his own jurisdiction has the power to impose tax and double the penalty on a further amount of £83,000 of income understated from 1931-1941.
Urging leniency for Galt, his counsel said that if the Court and the Commissioner imposed the maximum penalties allowable. Galt might be driven to bankruptcy with a total charge of £150,000 over his last 14 years of business activity.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/WC19471007.2.57
Bibliographic details
Wanganui Chronicle, 7 October 1947, Page 5
Word Count
139PENALTY OF £11,050 IMPOSED IN SYDNEY ON TAX DEFAULTER Wanganui Chronicle, 7 October 1947, Page 5
Using This Item
NZME is the copyright owner for the Wanganui Chronicle. 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 NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in