Section CB 16 — Income Tax Act 2007: Residential exclusion from sections CB 6 to CB 11

CB 16 Residential exclusion from sections CB 6 to CB 11 Exclusion (1) Sections CB 6 to CB 11 do not apply if— (a) the person— (i) acquired the land with a dwellinghouse on it; or (ii) acquired the land and erected a dwellinghouse on it; and (b) the dwellinghouse was occupied mainly as a residence by— (i) the person and any member of their family living with them; or (ii) if the person is a trustee, 1 or more beneficiaries of the trust. What exclusion applies to (2) The exclusion applies to the land that has the dwellinghouse on it. It also applies to land related to the land that has the dwellinghouse on it if the total area of the related land is— (a) 4,500 square metres or less; or (b) more than 4,500 square metres, if the larger area is required for the reasonable occupation and enjoyment of the dwellinghouse. Who exclusion does not apply to (3) The exclusion does not apply to a person who has engaged in a regular pattern of acquiring and disposing, or erecting and disposing, of dwellinghouses. Defined in this Act: dispose , land , trustee Compare: 2004 No 35 s CB 14