Timing and quantifying rules - Terminating provisions
EZ 23E: Item treated as available for use if access restricted due to Canterbury earthquake
You could also call this:
“Old rule for earthquake-affected items no longer applies”
This law used to be about how to treat items that were hard to get to because of the Canterbury earthquake. The law said these items could be considered as if they were available to use, even if you couldn’t actually reach them. However, this rule doesn’t apply anymore. The government removed it on 1 April 2016, so it’s not part of the current tax rules. This means that from the 2016-17 tax year onwards, there’s no special treatment for items affected by the Canterbury earthquake in this way.
EZ 23F: Insurance for Canterbury earthquake damage causing disposal: optional timing rule for income, deductions, or
“Optional timing for insurance money from Canterbury earthquake damage (no longer applies)”
Part E
Timing and quantifying rules
Terminating provisions
EZ 23EItem treated as available for use if access restricted due to Canterbury earthquake (Repealed)
Notes
Section EZ 23E: repealed, on (applying for the 2016–17 and later income years), by section 66(1) of the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Act 2014 (2014 No 4).
