Marshall v Commissioner of Inland Revenue - [1960] NZLR 972

Revenue — Income tax — Trustees' income and beneficiary's income — Trustees' accounting year differing from taxation year — Life tenant receiving payment of income in accounting year — Deemed to be entitled in possession in taxation year — Land and Income Tax Act 1923, s. 102 (a) (Land and Income Tax Act 1954, s. 155 (a)) — Finance Act (No. 2) 1937, s. 4 (Land and Income Tax Act 1954, s. 8).

Revenue — Income tax — Wool shorn before termination of life interest but not sold until after such termination — Proceeds paid to life tenant when received by trustees — Whether assessable to life tenant direct in income year in which shearing took place — Land and Income Tax Act 1923, s. 90 (Land and Income Tax Act 1954, s. 92).