This section of the law, called 'Entering partners' livestock income', was part of the Income Tax Act 2007. It was about how to deal with income from livestock when new partners join a business. However, this part of the law no longer exists. It was removed on 6 October 2009, but the change was meant to apply from 1 April 2009. This means that since then, there are no special rules in this part of the law about new partners and their livestock income.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1618764.

Topics:

Money and consumer rights > Taxes

CB 27: Income equalisation schemes, or

"Rules for managing income over time using special schemes"

CB 28: Environmental restoration accounts, or

"How income is calculated from environmental restoration account refunds and transfers"

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

CB 27BEntering partners’ livestock income (Repealed)

Notes

Section CB 27B: repealed (with effect on 1 April 2009), on 6 October 2009, by section 9(1) of the Taxation (International Taxation, Life Insurance, and Remedial Matters) Act 2009 (2009 No 34).