Payne v Deputy Federal Commissioner Of Taxation

Subject Matter

REVENUE — Australia — Revenue — Income tax — Income received in England — Not remitted to Australia — Assessment to Federal income tax — Rate of exchange — Assessable income to be expressed in terms of Australian currency — Method of calculation — Income Tax Assessment Act, 1922 (No. 37 of 1922), as amended by No. 50 of 1930, ss. 4, 13, 32, 35 — Income Tax Act, 1931 (No. 24 of 1931), ss. 2, 3, 4, 6.