Plain language law

New Zealand law explained for everyone

 Plain Language Law homepage
Back to
EZ 23BC: Property acquired after depreciable property affected by Hurunui/Kaikōura earthquakes
or “Rules for replacing earthquake-damaged property using insurance money”
You could also call this:

“Removed rule about losses from selling certain old structures”

This part of the law, called ‘Loss on disposal of grandparented structure’, used to be part of the Income Tax Act 2007. However, it has been removed and is no longer in effect. The government took it out of the law on 28 March 2024, but it actually stopped being used on 1 April 2020. This change was made as part of a bigger update to tax laws in 2024.

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 It might be out of date or be missing some parts.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: EZ 23BE: Property acquired after depreciable property affected by North Island flooding events

or “Replacing flood-damaged property with insurance money: tax implications”
Next

Part E Timing and quantifying rules
Terminating provisions

EZ 23BDLoss on disposal of grandparented structure (Repealed)

    Notes
    • Section EZ 23BD: repealed (with effect on 1 April 2020), on , by section 71(1) (and see section 71(2) for application) of the Taxation (Annual Rates for 2023–24, Multinational Tax, and Remedial Matters) Act 2024 (2024 No 11).