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New Zealand law explained for everyone

Income Tax Act 2007

Income - Income from holding property (excluding equity)

CC 2B: Compensation for land or buildings affected by emergency events

You could also call this:

“Money you get for land or buildings damaged in an emergency is part of your income.”

If you get money because your land or buildings were affected by an emergency event, that money is considered your income. This is according to section FP 5(2), which talks about getting new property to replace what was affected. You have to include this money when you think about how much income you have.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS1432036.

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CC 2C: Compensation for improvements to land affected by emergency events, or

"Money you get for land damaged in emergencies is part of your income."

Part C Income
Income from holding property (excluding equity)

CC 2BCompensation for land or buildings affected by emergency events

  1. An amount derived by a person under section FP 5(2) (Replacement property for land or buildings affected by emergency events) is income of the person.

Notes
  • Section CC 2B: inserted, on , by section 9 of the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Act 2025 (2025 No 9).