INCOME FROM BETTING.
NOT ASSESSABLE. AN IMPORTANT JUDGMENT. (Received Friday, 9.40 a.m.) LONDON, Thursday. Judge Rowlett 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.
Judge Rowlett said that Graham did not go to the races. lie 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' lie accepted the Commissioner’s suggestion that this steady betting constituted a vocation, they would have to face the fact that betting losses must lie permitted as an offset against income, from other callings, opening the door to the pointers’ claim for income deductions in respect to betting losses. Jle held that Graham’s operations were not organised like the bookmakers, and could not be classed as a vocation. He allowed the. appeal, with costs. —Ails, and N.Z. 'Cable Assn.
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Wairarapa Daily Times, 13 March 1925, Page 5
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156INCOME FROM BETTING. Wairarapa Daily Times, 13 March 1925, Page 5
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