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Income Tax Act 2007

Deductions - Terminating provisions

DZ 9: Premium paid on land leased before 1 April 1993

You could also call this:

“Tax deduction for land lease premiums paid before April 1993”

If you lease land that you use to make money, and the lease was granted or renewed before 1 April 1993, you can get a tax deduction. The amount you can deduct is explained in another part of the law called section EZ 8(2). This deduction is allowed under the general permission rule, but you still need to follow the general limitations. This rule applies to any person who meets these conditions.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1514229.

Topics:
Money and consumer rights > Taxes
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“Tax deductions for patent rights bought before April 1993”

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“Insurance claims for policies spanning 1 July 1993 limited to events after that date”

Part D Deductions
Terminating provisions

DZ 9Premium paid on land leased before 1 April 1993

  1. This section applies when a person (person A) leases land that they use in deriving their income and a grant or renewal of the lease occurs before 1 April 1993.

  2. Person A is allowed a deduction of the amount quantified in section EZ 8(2) (Premium paid on land leased before 1 April 1993).

  3. This section supplements the general permission. The general limitations still apply.

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