Section DO 10 — Income Tax Act 2007: Farming or horticulture expenditure of lessor or sublessor

DO 10 Farming or horticulture expenditure of lessor or sublessor When this section applies (1) This section applies when a person— (a) is the owner of an estate in fee simple or of a leasehold estate in land in New Zealand; and (b) grants a lease or a sublease of the land to a person who carries on a farming or agricultural business on the land; and (c) in the term of the lease or sublease,— (i) incurs expenditure relating to the land for which they are allowed a deduction under any of section DO 1 , DO 2 , DO 4 , DO 5 , or DO 6 ; or (ii) is allowed a deduction under section DO 4(2) , DO 5(2) , or DO 6 for expenditure incurred by another person relating to the land. Relationship with sections DO 1, DO 2, DO 4, DO 5, and DO 6 (2) Sections DO 1 , DO 2 , DO 4 , DO 5 , and DO 6 , whichever is applicable to the person, applies as if the person were personally carrying on a farming or agricultural business on the land at the time they incur the expenditure or are allowed the deduction. Defined in this Act: business , deduction , estate , lease , leasehold estate , New Zealand , own , term of the lease , Compare: 2004 No 35 s DO 5