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Volume 2 Eighth Supplement

Publication Date: Jun 1988

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DIGEST OF CASES REPORTED

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  Decision No. Download
PROFITS TAX    

Sections 16(1) and 17(1) of the Inland Revenue Ordinance—whether "severance payments" and "payments in lieu of notice" be allowable as deductions when business ceased to operate  

D36/87 Download D36/87 (DOC) - English Download D36/87 (PDF) - English

Whether a property registered in the name of one of the partners was an asset of the firm, and if so whether the rents were chargeable to profits tax and expenses deductible in arriving at the chargeable income  

D38/87 Download D38/87 (DOC) - English Download D38/87 (PDF) - English

Whether an exchange loss realised by the company on repayment of a US dollar loan deductible in arriving at the assessable profits of the company  

D45/87 Download D45/87 (DOC) - English Download D45/87 (PDF) - English

Whether "loss on exchange" and "loss on disposal of landed properties" allowable deductions  

D44/87 Download D44/87 (DOC) - English Download D44/87 (PDF) - English

Whether profits arising from the sale of certain shares chargeable to Profits Tax   

D52/87 Download D52/87 (DOC) - English Download D52/87 (PDF) - English

Whether profits derived from the sale of property were capital or revenue  

D37/87 Download D37/87 (DOC) - English Download D37/87 (PDF) - English

Whether profits generated from goods purchased overseas had its source in Hong Kong  

D50/87 Download D50/87 (DOC) - English Download D50/87 (PDF) - English

Whether resulting profits and losses on the sale of shares subject to Profits Tax  

D31/87 Download D31/87 (DOC) - English Download D31/87 (PDF) - English

Whether the gain realised on the acquisition and disposal of an asset an adventure in the nature of trade or a capital gain   

D41/87 Download D41/87 (DOC) - English Download D41/87 (PDF) - English
PROPERTY TAX    

Section 5(lA)(b)(ii) of the Inland Revenue Ordinance—whether actual expenses can be substituted for the 20% statutory allowance  

D32/87 Download D32/87 (DOC) - English Download D32/87 (PDF) - English
SALARIES TAX    

Whether the house available for the use of the Appellant a 'place of residence' provided rent free by his employer within the meaning of Section 9(1)(A) of the Inland Revenue Ordinance  

D46/87 Download D46/87 (DOC) - English Download D46/87 (PDF) - English
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