Plain language law

New Zealand law explained for everyone

 Plain Language Law homepage
Back to
CB 2: Amounts received on disposal of business assets that include trading stock
or “How to handle money from selling business assets, including stock”
You could also call this:

“Money earned from planned profit-making activities is considered income”

If you enter into or come up with a plan or project to make money, any amount you earn from carrying out this plan or project is considered income. This applies to you if you’re the person who created or carried out the plan. The government sees this as a way to make sure that money earned from planned profit-making activities is counted as income.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

Next up: CB 4: Personal property acquired for purpose of disposal

or “Profit from selling personal items bought to resell is taxable income”
Next

Part C Income
Income from business or trade-like activities

CB 3Profit-making undertaking or scheme

  1. An amount that a person derives from carrying on or carrying out an undertaking or scheme entered into or devised for the purpose of making a profit is income of the person.

Compare