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Income Tax Act 2007

Timing and quantifying rules - Terminating provisions

EZ 9: Pool method for items accounted for by globo method for 1992–93 income year

You could also call this:

“Rules for grouping similar property items into a single pool for accounting purposes from 1992-93”

If you choose to use the pool method for an item of property that is described in section EE 66(3)(c), you must also choose to treat all similar items of property as a single pool. This applies to items you still own that you accounted for at the end of your 1992–93 income year using the same globo account. The pool method is a way of grouping similar items together for accounting purposes.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1516015.

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Money and consumer rights > Taxes
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EZ 10: Pool items accounted for by globo method for 1992–93 income year, or

“Rules for income from selling items accounted for by old globo method”

Part E Timing and quantifying rules
Terminating provisions

EZ 9Pool method for items accounted for by globo method for 1992–93 income year

  1. If a person chooses the pool method for an item of property of a kind described in section EE 66(3)(c) (Meaning of poolable property), they must also choose to treat as a single pool all such items of property they still own that they accounted for at the end of their 1992–93 income year within the same globo account.

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