Income Tax Act 2007

Avoidance and non-market transactions - Terminating provisions

GZ 3: Donations of trading stock for relief of Canterbury earthquakes

You could also call this:

"No tax on stock donations for Canterbury earthquake relief"

You do not have to pay tax on some donations of trading stock. This applies when you donate stock to someone who is not related to you. You must donate it to help with the Canterbury earthquakes, as defined in section 4 of the Canterbury Earthquake Recovery Act 2011. You can donate stock between 4 September 2010 and 31 March 2012. This rule is an exception to the usual rule in section GC 1. It helps people who want to donate stock to help with the earthquakes. This exception only applies to donations for earthquake relief. It does not apply to other donations. You must follow the rules to qualify for this exception.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3825903.

This page was last updated on 29 January 2026 — View changes

Topics:

Money and consumer rights > TaxesEnvironment and resources > Emergency management

GZ 2: Arrangements involving cancellation of conduit tax relief credits, or

"Rules about cancelling conduit tax relief credits no longer apply"

GZ 4: Disposals of trading stock to donee organisations or public authorities, or

"Selling trading stock to charities or government without following usual tax rules"

Part GAvoidance and non-market transactions
Terminating provisions

GZ 3Donations of trading stock for relief of Canterbury earthquakes

Section GC 1 (Disposals of trading stock at below market value) does not apply to the disposal of trading stock by a person to a person who is not an associated person—
for the purpose of relief from the adverse effects of a Canterbury earthquake, as defined in section 4 of the Canterbury Earthquake Recovery Act 2011; and
in the period beginning on 4 September 2010 and ending on 31 March 2012.

Notes

Section GZ 3: added (with effect on 4 September 2010), on 24 May 2011, by section 5 of the Taxation (Canterbury Earthquake Measures) Act 2011 (2011 No 24).