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Income Tax Act 2007

Timing and quantifying rules - Terminating provisions

EZ 8B: Disposal of land to the Crown

You could also call this:

“Selling land to the government: what you need to know”

If you sell your land to the Crown, a law called section EI 8 still applies to you. This is because you sold the land before 26 August 2024. You can also still use section EI 8 if you got a binding ruling from the Commissioner before 26 August 2024 about how to allocate your income from the sale. The Commissioner is a person who makes decisions about taxes. The law still applies even though it was repealed by the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Act 2025. You can find more information about this in section EI 8. The law was repealed by section 49 of the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Act 2025.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS1427418.

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Part E Timing and quantifying rules
Terminating provisions

EZ 8BDisposal of land to the Crown

  1. Despite the repeal of section EI 8 (Disposal of land to the Crown) by the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Act 2025, section EI 8 continues to have effect on or after 26 August 2024 for a person who derives income from disposing of any of their land to the Crown if—

  2. the disposal occurs before 26 August 2024:
    1. the person has relied on a binding ruling made by the Commissioner before 26 August 2024 involving allocation of income under section EI 8 as it was before its repeal by section 49 of that Act.

      Notes
      • Section EZ 8B: inserted (with effect on 26 August 2024), on , by section 56 of the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Act 2025 (2025 No 9).