Category: Volume 19 Issue 1

Volume 19, Issue 1 – Burton

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A REVIEW OF JUDICIAL REFERENCES TO THE DICTUM OF JORDAN CJ, EXPRESSED IN SCOTT V COMMISSIONER OF TAXATION, IN ELABORATING THE MEANING OF ‘INCOME’ FOR THE PURPOSES OF THE AUSTRALIAN INCOME TAX By Mark Burton

Abstract
Judicial consideration of the meaning of ‘income’ (ITAA1936) and ‘ordinary income’(ITAA1997) includes reference to a dictum of Jordan CJ describing a process for discovering the meaning of ‘income’ for the purposes of the then New South Wales income tax. Over the past eighty years the import of this dictum has been described in various ways in case decisions. This paper identifies these different judicial descriptions of the dictum’s meaning and considers the significance of this diversity when describing the process by which the meaning of ‘ordinary income’ ought to be ascertained.

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VOLUME 19, ISSUE 1 – STERN

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DIGITAL CURRENCY:
MAY BE A ‘BIT PLAYER’ NOW, BUT IN THE LONGER TERM A ‘GAME CHANGER’ FOR TAX

By Steven Stern

The Prime Minister of Australia, the Hon Malcolm Turnbull MP, has announced that the tax system is one of the key levers the government has to promote economic activity, and that tax is at the centre of the whole productivity agenda. This article draws attention to the major ramifications of technological developments in the monetary field for the capacity of governments to control the economic agenda, including tax. is the definition of ‘money’ is changing, and it might not be prudent for governments and their advisers to assume that levers to control the composition of tax which existed in the twentieth century will continue to be available in the coming decades of the twenty first century.

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