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Income Tax Act 2007

Income - Income from business or trade-like activities - Exclusion for investment land

CB 23B: Land partially disposed of or disposed of with other land

You could also call this:

"Selling part or all of your land: what you need to know"

Illustration for Income Tax Act 2007

When you dispose of land, some rules apply. These rules are in sections CB 6A to CB 23, CZ 39, and CZ 40. They apply if the land is part of the land, the whole of the land, or disposed of with other land.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1611230.

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Housing and property > Buying and selling homesHousing and property > Land useMoney and consumer rights > Taxes
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CB 23: Investment exclusion from sections CB 12 and CB 13, or

"Exclusion for land improvements made to earn income"

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CB 24: Disposal of timber or right to take timber, or

"Selling timber or timber rights counts as income"

Part CIncome
Income from business or trade-like activities: Exclusion for investment land

CB 23BLand partially disposed of or disposed of with other land

  1. Sections CB 6A to CB 23, CZ 39, and CZ 40 (which relate to the bright-line test for residential land) apply to an amount derived from the disposal of land if the land is—

  2. part of the land to which the relevant section applies:
    1. the whole of the land to which the relevant section applies:
      1. disposed of together with other land.

        Compare
        Notes
        • Section CB 23B: inserted, on , by section 313 of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).
        • Section CB 23B heading: amended (with effect on 1 April 2015 and applying for the 2015–16 and later income years), on , by section 242(1) of the Taxation (Annual Rates for 2015–16, Research and Development, and Remedial Matters) Act 2016 (2016 No 1).
        • Section CB 23B: amended (with effect on 27 March 2021), on , by section 13 of the Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Act 2021 (2021 No 8).
        • Section CB 23B: amended (with effect on 1 October 2015 and applying to a person’s disposal of residential land if the date that the person first acquires an estate or interest in the residential land is on or after that date), on , by section 9(1) of the Taxation (Bright-line Test for Residential Land) Act 2015 (2015 No 111).