Section CB 17 — Income Tax Act 2007: Residential exclusion from sections CB 12 and CB 13

CB 17 Residential exclusion from sections CB 12 and CB 13 Exclusion: developing or dividing land for residential use (1) Sections CB 12 and CB 13 do not apply if— (a) the work involved in the undertaking or scheme is to create or effect a development, division, or improvement; and (b) the development, division, or improvement is for use in, and for the purposes of, the residing on the land of the person or any member of their family living with them. Exclusion: dividing residential land (2) Sections CB 12 and CB 13 do not apply if— (a) the land is a lot that came out of a larger area of land that the person divided into 2 or more lots; and (b) the larger area of land— (i) was 4,500 square metres or less immediately before it was divided; and (ii) was occupied by the person mainly as residential land for themselves and a member of their family living with them. Defined in this Act: land Compare: 2004 No 35 s CB 15 Section CB 17(1): amended, on 1 April 2008, by section 310 of the Taxation (Business Taxation and Remedial Matters) Act 2007 (2007 No 109).