Section EH 37 — Income Tax Act 2007: Persons to whom adverse event income equalisation scheme applies

EH 37 Persons to whom adverse event income equalisation scheme applies Person described (1) The adverse event income equalisation scheme applies to a person who, in an accounting year,— (a) carries on a farming or agricultural business on land in New Zealand; and (b) sells livestock and does not replace it because of a self-assessed adverse event. Meaning of person for adverse event income equalisation scheme (2) In the adverse event income equalisation scheme, person means a person described in subsection (1). Defined in this Act: accounting year , adverse event income equalisation scheme , business , New Zealand , person , self-assessed adverse event , Compare: 2004 No 35 s EH 38