Timing and quantifying rules - Income equalisation schemes - Deposits and accounts
EH 38: Adverse event deposit
You could also call this:
“Money set aside for unexpected farming events is no longer recognised in tax law”
This section of the law, called ‘Adverse event deposit’, used to be part of the Income Tax Act 2007. However, it no longer exists. The government removed this section on 18 March 2019. This means that any rules about adverse event deposits that were once in this part of the law are no longer valid.
EH 39: Adverse event income equalisation account, or
“Adverse event income equalisation account no longer exists”
Part E
Timing and quantifying rules
Income equalisation schemes:
Deposits and accounts
EH 38Adverse event deposit (Repealed)
Notes
Section EH 38: repealed, on , by section 169(3) (and see section 169(11) for application) of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial Matters) Act 2019 (2019 No 5).
