the ordinary course of business, at least as to the excess, within the meaning of U.S.Treas.Reg. 108, § 86.8, designed to exclude bad business bargains made at arm's length from the tax imposed by § 1002, which might otherwise be thought to come within the literal language of that section. No intention to secure repayment from the other beneficiaries of the amount of premiums in excess of the value to the taxpayer of her interest in the trust which she was protecting was shown. The existence of a gift in cases where a co-owner pays off a tax lien would seem to depend on whether eventual recovery of the proportionate share of the payment was anticipated.


7
The government's actuarial computation gave the taxpayer credit for the value to herwas assigned to survey the parts of the Australian coast not already examined by Royal Navy officer, Matthew Flinders,  (who had already made three earlier exploratory voyages between 1791 and 1810, including the first circumnavigation of Australia) and made four voyages between December 1817 and April 1822. Amongst the 19-man crew were Allan Cunningham (botanist), John Septimus Roe and the aborigine Bungaree. The first three trips were in the 76 tonne cutter , but the vessel was grounded in 1829.

The Admiralty instructed King to discover whether there was any river 'likely to lead to an interior navigation into this great continent'. The Colonial Office had given instructions to collect information about topography, fauna, timber, minerals, climate, and the natives and the prospects of developing trade with them.