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Income Tax Act 2007

Timing and quantifying rules - Income equalisation schemes - Interest

EH 40: Interest on deposits in adverse event income equalisation account

You could also call this:

"This rule about interest on special farming accounts no longer applies"

This section of the law used to talk about how interest works on money you put into a special account called the adverse event income equalisation account. However, this part of the law was removed on 18 March 2019. This means it no longer applies, and you don't need to worry about it anymore.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1514927.

Topics:
Money and consumer rights > Taxes
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EH 39: Adverse event income equalisation account, or

"Adverse event income equalisation account no longer exists"

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EH 41: Deduction of deposit, or

"This provision about deducting deposits is no longer active"

Part ETiming and quantifying rules
Income equalisation schemes: Interest

EH 40Interest on deposits in adverse event income equalisation account (Repealed)

    Notes
    • EH 40: repealed, on , by section 169(4) (and see section 169(11) for application) of the Taxation (Annual Rates for 2018–19, Modernising Tax Administration, and Remedial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).