DB 29 Apportionment when land acquired with other property

If a person derives income under sections CB 6A to CB 14 (which relate to the disposal of land) from the disposal of land, and the land is acquired together with other property, the cost of acquisition must be apportioned between the land and the other property.

Defined in this Act: income, land, property

Compare: 2004 No 35 s FB 4A

Section DB 29: amended (with effect on 1 October 2015 and applying to a person’s disposal of residential land if the date that the person first acquires an estate or interest in the residential land is on or after that date), on 16 November 2015, by section 11(1) of the Taxation (Bright-line Test for Residential Land) Act 2015 (2015 No 111).