New Zealand Bloodstock Finance and Leasing Limited

This product ruling applies to the customers who have entered into the Bloodstock Lease to Purchase Agreement with New Zealand Bloodstock Finance and Leasing Limited to lease a thoroughbred breed of horse for use in the customers’ business of breeding bloodstock and selling the leased bloodstock’s progeny.

This product ruling does not provide certainty on whether the particular customer is carrying on a breeding business. If a customer wishes to seek certainty from the Commissioner of Inland Revenue as to whether their breeding activities constitute a bloodstock breeding business, they can apply for a private ruling or a short-process ruling (subject to certain criteria).

For general guidance on carrying on a bloodstock breeding business, please refer to QB 22/07: Income Tax and Goods and Services Tax – Treatment of bloodstock breeding.