Ward v Commissioner of Inland Revenue - [1969] NZLR 12

Income tax — Trustees and beneficiaries' income — Trust deed conferring on trustee powers under Trustee Act 1956 — Trustee before end of financial year declaring that she held stated amounts of the income for that year for each of the beneficiary children — Amounts not separated from general funds of trust — Whether amounts applied for the benefit of the children — Land and Income Tax Act 1954, s. 155 (b) — Trustee Act 1956, s. 40.