Appendix (a) - Legal Opinion on Taxation: The Mutuality Principle
CO-OPERATIVE RETAILING IN NEW ZEALAND, Pole, 1969
Victoria University of Wellington Legal Research Paper Series Richardson Paper No. 11
14 Pages Posted: 16 Jul 2013 Last revised: 20 Feb 2015
Date Written: 1969
Abstract
This paper considers the mutuality principle in tax law and the effect that s 145 of the Land and Income Tax Act 1954 has had on this principle. The mutuality principle is the doctrine that, in the absence of special legislation, a payment to oneself cannot constitute income. The paper first canvases the decisions that established this principle and the relevant United Kingdom provision, before assessing the scheme and scope of s 145.
Keywords: Land and Income Tax Act 1954, mutuality principle, tax law
JEL Classification: K10, K20, K30, K34
Suggested Citation: Suggested Citation