Decision given 16 July 1985.

Input tax – Precious metals business – Motor racing – Attempt to become professional racing driver – Sponsorship sought – Whether motor racing hobby or business – Whether expenses in running and maintaining racing car deductible – Value Added Tax Act 1983, sec. 14(3), (4).

  The appellant, a New Zealander, having decided to become a professional motor-racing driver, came to this country to do so. To support himself he carried on business dealing in precious metals.

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