McKay v Commissioner of Inland Revenue - [1972] NZLR 723

Income Tax — Objections to assessments — Objector assigning income arising from his share of capital in a professional partnership to existing family trust — Objector assessed for tax in respect of assigned income — Assignment to family trust voided pursuant to s 108 of the Land and Income Tax Act 1954 - Objector assessable for share of assigned income only on basis that assigned income not deductible as a partnership expense.