Income Tax Act 2007

Income - Income from holding property (excluding equity)

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

You could also call this:

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

If you get money because your land was affected by an emergency event, that money is considered your income. This is according to section FP 12(2) or (4), which is about getting replacement property for improvements to land affected by emergency events. You have to include this money in your income.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS1432613.


Previous

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

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


Next

CC 3: Financial arrangements, or

"Income from financial arrangements and debt forgiveness for trustees"

Part CIncome
Income from holding property (excluding equity)

CC 2CCompensation for improvements to land affected by emergency events

  1. An amount derived by a person under section FP 12(2) or (4) (Replacement property for improvements to land affected by emergency events) is income of the person.

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