15 Mar 2011
G J LUPTON V THE COMMISSIONER OF INLAND REVENUE DEPARTMENT HC WN CIV 2008-485-2460
- Citation
- openlaw-2d02912d_5aad_43d6_b415_4623366da7d2.pdf
- Court
- High Court
The Court found on the balance of probabilities that, except for the AUD$215,000 received via Honshu Pty, the deposits and transfers through Scorelink, Customer Direct, GT Agents/Clydesdale, GT Investments/Global and payments to the plaintiff's personal account were derived by the plaintiff and constituted assessable income; the plaintiff's evidence was largely not credible or reliable; the AUD$215,000 was a capital repayment/proceeds and not taxable; because the plaintiff took deliberate steps to conceal income via corporate/trust structures the evasion shortfall penalty under s141E is impos…
- Income assessment
- Deemed derivation
- Shortfall penalty (evasion)
- Credibility of evidence
- Proof on balance of probabilities
- Profit on sale of property