Section EH 63 — Income Tax Act 2007: Persons to whom thinning operations income equalisation scheme applies

EH 63 Persons to whom thinning operations income equalisation scheme applies Person described (1) The thinning operations income equalisation scheme applies to a company that, in an accounting year,— (a) carries on a forestry business on land in New Zealand; and (b) derives income from carrying out thinning operations on the land. Meaning of person for thinning operations income equalisation scheme (2) In the thinning operations income equalisation scheme, person means a person described in subsection (1). Defined in this Act: accounting year , business , company , forestry business , income , New Zealand , person , thinning operations , thinning operations income equalisation scheme Compare: 2004 No 35 s EH 65 Section EH 63 list of defined terms forestry business : inserted (with effect on 1 April 2008), on 7 December 2009, by section 126 of the Taxation (Consequential Rate Alignment and Remedial Matters) Act 2009 (2009 No 63).