If you own land with standing timber and transfer it as part of a relationship property settlement, there are special rules you need to know about. These rules apply when the timber isn't just for decoration or incidental use. You'll need a special certificate to prove this.

When you transfer the land and timber, it's treated as if you sold it and the other person bought it. The price is set at how much the timber cost you when you first got it. This is important because it affects how the government calculates taxes on the transfer.

Remember, these rules are part of section CB 25, which deals with selling land that has standing timber on it. The certificate you need comes from section 44C of the Tax Administration Act 1994.