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Income Tax Act 2007

Deductions - New investment assets

DI 3: Meaning of new asset transferee

You could also call this:

"Who is a new asset transferee, like a person or company getting assets from someone else?"

Illustration for Income Tax Act 2007

When you hear the term new asset transferee, it refers to a person who gets an asset that someone else, called person A, had chosen to apply a certain set of rules to. You can be a new asset transferee if you are related to person A, or if you are a company that merges with person A. You can also be a new asset transferee if you have a special agreement with person A, or if you get person A's assets in certain situations described in section FC 1(1)(a) or (b).

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Topics:
Money and consumer rights > Taxes
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DI 2: When this subpart applies and does not apply, or

"When you can and can't use this tax rule for new assets in New Zealand"

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DI 4: Meaning of new investment asset, or

"What is a new investment asset, like a building or land that loses value over time?"

Part DDeductions
New investment assets

DI 3Meaning of new asset transferee

  1. New asset transferee means one of the following persons that acquires an asset to which another person (person A) previously chose to apply this subpart:

  2. an associate of person A:
    1. a company amalgamating with person A:
      1. a person who is a party to a relationship agreement with person A or who is associated with a person who is a party to a relationship agreement with person A:
        1. a person who is a transferee of person A’s estate in the circumstances described in section FC 1(1)(a) or (b) (Disposals to which this subpart applies).

          Notes
          • Section DI 3: inserted (with effect on 22 May 2025), on , by section 5 of the Taxation (Budget Measures) Act 2025 (2025 No 26).