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Technical tax area
Ngā tūmomo whakataunga me ngā aratohu

QB 15/04: Income tax - Whether it is possible that the disposal of land that is part of an undertaking or scheme involving development or division will not give rise to income, even if no exclusion applies

This item considers whether it is possible that the disposal of land that is part of an undertaking or scheme involving development or division will not give rise to income under s CB 12 or s CB 13, even if none of the statutory exclusions apply.  The item concludes that if an undertaking or scheme involving development or division has been carried on (and meets the other criteria in s CB 12 or s CB 13) the proceeds on disposal of all of the land will be taxable under the relevant provision unless an exclusion applies.  However, the Commissioner will accept that s CB 12 or s CB 13 does not apply to the disposal of any given part of the land if the taxpayer can provide satisfactory evidence that the undertaking or scheme was not carried on with a view to the disposal of that land.

QB 15/04 - PDF format (266kb | 21 pages)

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