Income Tax Act 2007

Timing and quantifying rules - Valuation of livestock

EC 1: Application of this subpart

You could also call this:

"Rules for valuing livestock when selling as a business"

This part of the law applies to you when you own or run a business and have livestock to sell. You must value the livestock when you sell it as part of your business. The law divides livestock into types, such as specified, non-specified, high-priced, and bloodstock.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1514342.

This page was last updated on 29 January 2026 — View changes

Topics:

Business > Industry rulesMoney and consumer rights > TaxesEnvironment and resources > Farming and fishing

EB 24: Apportionment on disposal of business assets that include trading stock, or

"How to split the sale price of business assets that include trading stock"

EC 2: Valuation of livestock, or

"How to value your livestock at the end of each tax year"

Part ETiming and quantifying rules
Valuation of livestock

EC 1Application of this subpart

This subpart applies to the valuation of property when a person who owns or carries on a business, other than of selling livestock, holds livestock for the purposes of sale or exchange in the ordinary course of carrying on the business.
For the purposes of this subpart, livestock is divided into—
specified livestock:
non-specified livestock:
high-priced livestock:
bloodstock.

Compare

2004 No 35 s EC 1

Notes

Section EC 1(1) heading: replaced (with effect on 1 April 2008), on 2 November 2012, by section 30(1) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).
Section EC 1(1): replaced (with effect on 1 April 2008), on 2 November 2012, by section 30(1) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).