DB 18A: Ring-fenced allocations: disposal of residential land within 5 years
You could also call this:
“This rule about selling residential land within 5 years no longer applies”
This section of the law, called DB 18A, used to talk about what happens when you sell residential land within 5 years. It was part of the rules about deductions in the Income Tax Act 2007. However, this rule no longer applies. It was removed from the law on 26 June 2019, but the change was set to start from 1 April 2019. This means that since April 2019, you don’t need to worry about this specific rule anymore when dealing with residential land sales.
DB 18AB: Deduction cap: disposal of residential land within 5 years to associated persons, or
“Removed rule about tax deductions when selling houses to people you know”
Part D
Deductions
Specific rules for expenditure types
DB 18ARing-fenced allocations: disposal of residential land within 5 years (Repealed)
Notes
Section DB 18A: repealed (with effect on 1 April 2019), on , by section 57 of the Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Act 2019 (2019 No 33).
