Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Deductions - Specific rules for expenditure types

DB 18AB: Deduction cap: disposal of residential land within 5 years to associated persons

You could also call this:

“Removed rule about tax deductions when selling houses to people you know”

This section of the law has been removed. It used to be about limiting how much money you could take off your taxes when you sold a house to someone you know within 5 years. But now, this rule no longer exists in the law.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6663120.

Topics:
Money and consumer rights > Taxes
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DB 18A: Ring-fenced allocations: disposal of residential land within 5 years, or

“This rule about selling residential land within 5 years no longer applies”

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DB 18: Transaction costs: leases, or

“You can claim deductions for costs of preparing and registering leases”

Part D Deductions
Specific rules for expenditure types

DB 18ABDeduction cap: disposal of residential land within 5 years to associated persons (Repealed)

    Notes
    • Section DB 18AB: repealed (with effect on 1 April 2019), on , by section 58 of the Taxation (Annual Rates for 2019–20, GST Offshore Supplier Registration, and Remedial Matters) Act 2019 (2019 No 33).