Section EE 23 — Income Tax Act 2007: Combined pools

EE 23 Combined pools Combining pools allowed (1) A person using the pool method may at any time combine any number of pools to form a single pool. Consequences (2) When a person combines pools,— (a) the new pool’s adjusted tax value is the same as the sum of the adjusted tax values of the constituent pools; and (b) the adjusted tax value of each of the constituent pools at the end of the income year in which the pools are combined is zero; and (c) each of the constituent pools ceases to exist. Defined in this Act: adjusted tax value , income year , pool , pool method , Compare: 2004 No 35 s EE 23