Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Deductions - Farming and aquacultural business expenditure

DO 8: Meaning of planting and plot

You could also call this:

“Explanation of 'planting' and 'plot' for horticultural businesses in tax reporting”

When you’re involved in a horticultural business, you need to understand what ‘planting’ and ‘plot’ mean for your taxes. ‘Planting’ refers to the listed horticultural plants that are part of your business during a tax year. You have to account for these plants separately from other listed horticultural plants in your business, as outlined in sections DO 5 and DO 6. A ‘plot’ is simply the area of land where these listed horticultural plants are growing. These definitions help you figure out how to properly report your horticultural activities for tax purposes.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1513950.

Topics:
Money and consumer rights > Taxes
Business > Industry rules
Environment and resources > Farming and fishing
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DO 7: Accounting for expenditure on listed horticultural plants under sections DO 5 and DO 6, or

“Rules for tracking spending on horticultural plants for tax deductions”

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DO 9: Meaning of replaced area fraction, or

“How to calculate the percentage of your horticultural plot that's been replanted or regrafted”

Part D Deductions
Farming and aquacultural business expenditure

DO 8Meaning of planting and plot

  1. In this section and sections DO 5 to DO 7,—

    planting for a person and an income year means 1 or more listed horticultural plants—

    1. that are involved in the business of the person during the income year; and
      1. for which the person must account under sections DO 5 and DO 6, for the income year, separately from any other listed horticultural plants that are involved in the business of the person

        plot means the land occupied by the listed horticultural plants in a planting.

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