Non-assessable assets

Non-assessable assets are specific assets that must be excluded from:

• the assessable estate of:
  • a deceased person who has a surviving partner or
  • a deceased child
• the assets of a surviving partner
• the assets of the parents of a deceased child

Non-assessable assets of a deceased person, a surviving partner, or the parents of a deceased child are:

• that person's interest (on the date of death) in their own principal place of residence, including the land on which it is built and any other buildings or improvements on that land that are used mainly for the purposes of that person's household, and
• any undivided beneficial interest in common Māori land and
• any of the following items that the person owned or possessed through hire purchase, a conditional sales agreement, or an agreement for lease or hire:
  • furniture, appliances, tools, ornaments, or other items used mainly for the purposes of the deceased's household or
  • motor vehicles, caravans, trailers, or boats used mainly for family purposes

Note non-assessable assets do not apply to the assessable estate of a deceased person who is single and is aged 18 years or over.