The law says that some parts of the Income Tax Act 1994 and the Goods and Services Tax Act 1985 apply when a business or part of a business is transferred to someone else. You need to know that this law is part of the Local Government Act 1974, which is about how local councils work. The part of the law that says this is called section 594ZM, but it is no longer in force because it was repealed on 1 July 2003 by section 266 of the Local Government Act 2002, which you can find on the legislation.govt.nz website.