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Reference
PUB00519
Open Date
06 Dec 2024
Closing Date
14 Feb 2025
Status
Current

Can section CB 3 apply to amounts derived from the disposal of land?

This question we’ve been asked considers whether s CB 3 of the Income Tax Act 2007 can apply to amounts derived from the disposal of land. Section CB 3 provides that an amount derived from an undertaking or scheme for the purpose of making a profit is income of a person.

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