An inductive power transfer system for the shaft mounted electronics of a rotary torque application includes a pair of planar PCB coils having spiral copper traces on the surfaces of one or more layers of PCB substrate material. A primary coil surrounds but is not connected to a steel torque transmission shaft for rotation therewith. A secondary coil is mounted for rotation with the shaft and is inductively linked with the primary coil by means of a close proximity parallel mounting relationship wherein both coils are coaxial with the torque transmission shaft and use the shaft as a partial low permeability core.