Section EE 44 — Income Tax Act 2007: Application of sections EE 48 to EE 52

EE 44 Application of sections EE 48 to EE 52 When sections apply (1) Sections EE 48 to EE 52 apply when a person has consideration from the disposal of an item or from an event involving an item, if— (a) the consideration is consideration of a kind described in section EE 45 ; and (b) either— (i) the item is an item of a kind described in section EE 46 ; or (ii) the event is an event of a kind described in section EE 47 . Exclusions (2) Sections EE 48 to EE 52 do not apply when— (a) a person disposes of an item of intangible property as part of an arrangement to replace it with an item of the same kind: (b) a person’s patent application has concluded because a patent is granted to the person in relation to the application: (c) a person’s geothermal well becomes unavailable for use under section EE 6(4) because the geothermal energy proving period has ended: (d) a person receives, for an item of property, an amount of insurance to which section EZ 23B (Property acquired after depreciable property affected by Canterbury earthquakes) applies. Defined in this Act: arrangement , consideration , dispose , geothermal energy proving period , geothermal well , property , Compare: 2004 No 35 s EE 37 Section EE 44(1): amended (with effect on 1 April 2008), on 21 December 2010, by section 51 of the Taxation (GST and Remedial Matters) Act 2010 (2010 No 130). Section EE 44(2)(c): amended (with effect on 4 September 2010), on 29 August 2011, by section 24 of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63). Section EE 44(2)(d): added (with effect on 4 September 2010), on 29 August 2011, by section 24 of the Taxation (Tax Administration and Remedial Matters) Act 2011 (2011 No 63).