Commissioner of Inland Revenue v Smythe - [1981] 1 NZLR 673

Income tax — Assessable income — Retiring allowances payable to employees — "Bonus" — Lump sum payment made to retiring managing director in lieu of his entitlement to accrued long service leave — Whether the payment was "by way of a bonus, gratuity or retiring allowance" and whether it was made "on the occasion of his retirement" — Land and Income Tax Act 1954, s 88B(1).