Volume 5 Second Supplement

quantum of penalties - company director - carry forward losses - s 82A of the Inland Revenue Ordinance  

whether penalties excessive - s 82A of the Inland Revenue Ordinance  

land exchange entitlements - pooling of entitlements with others to tender for land for development - whether share of profit on sale of finished units was capital   

professional firm – termination of professional business and commencement of new partnership business – whether payment by new partnership to proprietor of original business is taxable income.

whether certain expenditure was wholly and exclusively incurred in the production of chargeable profits  

whether compensation paid by the Government for resumption of land is capital or income - whether interest on resumption payment is taxable  

whether different ground of appeal can be introduced  

whether property acquired as trading or capital asset -whether intention to convert from trading asset to capital asset -Sharkey v Wernher  

claim to apportion income on 'days in - days out' basis - s 8 of the Inland Revenue Ordinance  

deduction of expenses - whether expenses were incurred in the performance of the duties, and were wholly, exclusively and necessarily so incurred - three tests to be applied  

dependent parent allowance - s 42B(l)(d) and s 42B(2)(a) of the Inland Revenue Ordinance  

personal assessment - whether losses incurred in buying and selling Hang Seng Index futures can be deducted against salaries tax liability  

whether taxpayer an employee or carrying on business