Tayles and Another v Commissioner of Inland Revenue - [1977] 1 NZLR 668

Income tax — Settlements and transfers of income — Farmer entering unit partnership with trustee of his own family trust — Land asset of partnership — Live and dead stock bailed to partnership — Farmer's unit shares income equal to five percent per annum of capital — Family trust unit shares income equal to 211 percent per annum of capital — Principal purpose avoidance of tax — Land and Income Tax Act 1954, s 108.