Section DO 2 — Income Tax Act 2007: Erosion and shelter plantings

DO 2 Erosion and shelter plantings When this section applies (1) This section applies when a person carries on a farming or agricultural business on land in New Zealand, whether or not the business is the principal business carried on on the land. Deduction (2) The person is allowed a deduction for expenditure that they incur in planting or maintaining trees, whether or not on the land, for the purpose of— (a) preventing or combating erosion of the land; or (b) providing shelter to the land. Link with subpart DA (3) This section overrides the capital limitation. The general permission must still be satisfied and the other general limitations still apply. Defined in this Act: business , capital limitation , deduction , general limitation , general permission , New Zealand , Compare: 2004 No 35 s DO 2