Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Recharacterisation of certain transactions - Transfers of relationship property

FB 1: When this subpart applies

You could also call this:

“This section explains when the rules apply to property transfers during relationship settlements”

This part of the law applies when you transfer property as part of settling relationship property. This means that when you and your partner divide your shared belongings, the rules in this section come into effect. It’s important to know that this law is specifically about the transfer of property during a relationship settlement.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1516328.

Topics:
Money and consumer rights > Taxes
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FB 1B: Meaning of settlement of relationship property and property, or

“Explains what 'settlement of relationship property' and 'property' mean in this law”

Part F Recharacterisation of certain transactions
Transfers of relationship property

FB 1When this subpart applies

  1. This subpart applies when property is transferred on a settlement of relationship property.

Notes
  • Section FB 1: replaced (with effect on 1 April 2008 and applying for the 2008–09 and later income years), on , by section 161(1) of the Taxation (Annual Rates for 2015–16, Research and Development, and Remedial Matters) Act 2016 (2016 No 1).