Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Recharacterisation of certain transactions - Transfers of relationship property

FB 9: Financial arrangements rules

You could also call this:

“Rules for financial arrangements when settling relationship property”

When you transfer a financial arrangement as part of settling relationship property, the financial arrangements rules don’t apply to it. This is only true if the financial arrangement meets certain criteria. You can find these criteria in section EW 10(6). If you want to know how the old financial arrangements rules work in this situation, you can look at section EZ 45(c).

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1516345.

Topics:
Money and consumer rights > Taxes
Family and relationships > Marriage and partnerships
Previous

FB 8: Patent applications and patent rights, or

“Handling patents when couples split property”

Next

FB 10: Continuity provisions: shares and options, or

“Rules for transferring company shares during relationship property settlements”

Part F Recharacterisation of certain transactions
Transfers of relationship property

FB 9Financial arrangements rules

  1. The financial arrangements rules do not apply to a financial arrangement transferred on a settlement of relationship property if the financial arrangement meets the criteria set out in section EW 10(6) (Financial arrangements to which financial arrangements rules apply). For the application of the old financial arrangements rules, see section EZ 45(c) (Application of old financial arrangements rules).

Compare
Notes
  • Section FB 9: amended (with effect on 1 April 2008), on , by section 203(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).