Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Income - Terminating provisions

CZ 38: Disposals of trading stock to non-associates without business purpose

You could also call this:

"Selling trading stock without a business reason to someone you don't work with"

Illustration for Income Tax Act 2007

You need to know about a rule called Disposals of trading stock to non-associates without business purpose. This rule is part of the Income Tax Act 2007. It was repealed on 1 April 2024 by the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Act 2024, which you can find on the https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS945091 legislation website.

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 It might be out of date or be missing some parts.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

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS478268.

This page was last updated on — View changes

Topics:
Money and consumer rights > TaxesBusiness > Industry rules
Previous

CZ 37: Income equalisation schemes, or

"Refunds and how they affect your tax"

Next

CZ 39: Disposal within 5 years: bright-line test for residential land: acquisition on or after 29 March 2018, or

"Selling your home: a 5-year rule for land bought after 29 March 2018"

Part CIncome
Terminating provisions

CZ 38Disposals of trading stock to non-associates without business purpose (Repealed)

    Notes
    • Section CZ 38: repealed, on , by section 32 of the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Act 2024 (2024 No 11).