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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 to people you don't work with for non-business reasons"

Illustration for Income Tax Act 2007

You get income from selling trading stock to people you do not work with. This income is counted in your income for the year. It is covered under section GZ 5 which is about selling trading stock to people you do not work with.

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

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Money and consumer rights > TaxesBusiness > Industry rules
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Part CIncome
Terminating provisions

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

  1. An amount that a person is treated as deriving in an income year under section GZ 5 (Disposals of trading stock to non-associates) is income of the person for the income year.

Notes
  • Section CZ 38: inserted (with effect on 17 March 2020), on , by section 25 of the Taxation (Annual Rates for 2020–21, Feasibility Expenditure, and Remedial Matters) Act 2021 (2021 No 8).