Section GZ 3 — Income Tax Act 2007: Donations of trading stock for relief of Canterbury earthquakes

GZ 3 Donations of trading stock for relief of Canterbury earthquakes Section GC 1 (Disposals of trading stock at below market value) does not apply to the disposal of trading stock by a person to a person who is not an associated person— (a) for the purpose of relief from the adverse effects of a Canterbury earthquake, as defined in section 4 of the Canterbury Earthquake Recovery Act 2011; and (b) in the period beginning on 4 September 2010 and ending on 31 March 2012. Defined in this Act: associated person , trading stock Section GZ 3: added (with effect on 4 September 2010), on 24 May 2011, by section 5 of the Taxation (Canterbury Earthquake Measures) Act 2011 (2011 No 24).