Section CB 19 — Income Tax Act 2007: Business exclusion from sections CB 6 to CB 11

CB 19 Business exclusion from sections CB 6 to CB 11 Exclusion (1) Sections CB 6 to CB 11 do not apply to a disposal of land if— (a) the land is the premises of a business; and (b) the person acquired and occupied, or erected and occupied, the premises mainly to carry on a substantial business from them. Who exclusion does not apply to (2) The exclusion does not apply to a person who has engaged in a regular pattern of acquiring and disposing, or erecting and disposing, of premises for businesses. Meaning of land (3) In this section, land includes land that— (a) is reserved, with the premises, for the use of the business; and (b) is of an area no greater than that required for the reasonable occupation of the premises and the carrying on of the business. Defined in this Act: business , dispose , land Compare: 2004 No 35 s CB 17