Income Tax Act 2007

Recharacterisation of certain transactions - Tax relief for emergencies - Optional rule for valuation of group assets

FP 26: Livestock specified by regulations

You could also call this:

"Rules about which farm animals are covered by tax laws"

The Governor-General can make regulations about the types of livestock that are covered by certain rules. You can find these types of livestock in schedule 17. The Governor-General makes these regulations on the recommendation of the Minister of Revenue, and they can apply to rules in sections FP 23 to FP 25.

The regulations can start on a day before, on, or after they are made, but not before a certain emergency event starts, as specified by regulations made under section 6J of the Tax Administration Act 1994. The regulations will come into force on the specified day.

The regulations can also apply retrospectively, but only to the extent allowed by the rules about when they start. You can find out more about how these regulations are published in Part 3 of the Legislation Act 2019.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS1432231.


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FP 27: Certain land and buildings affected by emergency event, or

"Help for land and building owners after a disaster"

Part FRecharacterisation of certain transactions
Tax relief for emergencies: Optional rule for valuation of group assets

FP 26Livestock specified by regulations

  1. The Governor-General may, by Order in Council made on the recommendation of the Minister of Revenue, make regulations specifying 1 or more types or classes of livestock set out in schedule 17 (Types and classes of livestock) to which sections FP 23 to FP 25 apply.

  2. Regulations made under this section may be expressed to come into force on a day that is before, on, or after the date on which they are made, but not earlier than the date the emergency event begins, as specified by regulations made under section 6J of the Tax Administration Act 1994, and the regulations come into force or, as the case may be, are deemed to have come into force accordingly.

  3. Regulations made under this section may be retrospective only to the extent provided for in subsection (2).

  4. Regulations made under this section are secondary legislation (see Part 3 of the Legislation Act 2019 for publication requirements).

Notes
  • Section FP 26: inserted, on , by section 65 of the Taxation (Annual Rates for 2024–25, Emergency Response, and Remedial Measures) Act 2025 (2025 No 9).