Plain language law

New Zealand law explained for everyone

 Plain Language Law homepage
Back to
EH 37: Persons to whom adverse event income equalisation scheme applies
or “Who could use the adverse event income equalisation scheme (now removed)”
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 This means that any rules about adverse event deposits that were once in this part of the law are no longer valid.

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 It might be out of date or be missing some parts.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: EH 39: Adverse event income equalisation account

or “Adverse event income equalisation account no longer exists”
Next

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EH 38Adverse event deposit (Repealed)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    • Section EH 38: repealed, on , by section 169(3) (and see section 169(11) for application) of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial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).