Plain language law

New Zealand law explained for everyone

 Plain Language Law homepage
Back to
EL 7: When property A sold
or “Rules for using leftover tax deductions when you sell a rental property”
You could also call this:

“Handling transferred money when selling fully-taxed items”

This section of the law has been removed. It used to be about how to handle money that was moved before when you sell something that is fully taxed. The section was called ‘Treatment of previously transferred amounts on fully-taxed disposals’. It was part of the rules about when and how much to tax in the Income Tax Act 2007. The government took this section out of the law on 23 March 2020, but the change applies from 1 April 2019.

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 It might be out of date or be missing some parts.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

Next up: EL 9: Main home exclusion

or “Tax rule exemption for residential land used mainly as your home”
Next

Part E Timing and quantifying rules
Allocation of deductions for excess residential land expenditure

EL 8Treatment of previously transferred amounts on fully-taxed disposals (Repealed)

    Notes
    • Section EL 8: repealed (with effect on 1 April 2019), on , by section 110 of the Taxation (KiwiSaver, Student Loans, and Remedial Matters) Act 2020 (2020 No 5).