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Technical tax area Ngā tūmomo whakataunga me ngā aratohu

Tax Depreciation Rates General Determination Number 65

1. Application

This determination applies to taxpayers who own items of depreciable property of the kinds listed in the table below that have been acquired on or after 1 April 2005.

This determination applies for the 2007/2008 and subsequent income years.

2. Determination

Pursuant to section 91AAF of the Tax Administration Act 1994 I set in this determination the economic rates to apply to the kinds of items of depreciable property listed in the table below by:

  • Adding into the "Building Fit-out" and "Transportation" asset categories the general asset classes, estimated useful lives, and diminishing value and straight-line depreciation rates listed in the table below.

     

    General asset class Estimated useful life(years) DV rate (%) SL rate (%)

    Speed humps (plastic)

    5

    40

    30

    Speed humps (rubber)

    10

    20

    13.5

 

3. Consequential change

As a consequence of this determination, the existing asset class "metal speed humps" is renamed "speed humps (metal)" in the "Building Fit-out" and "Transportation" asset categories.

 

1 2 3 4 5 6
General asset class Estimated buseful life(years) DV rate before 1/4/05 (%) SL rate before 1/4/05(%) DV rate from 1/4/05(%) SL rate from 1/4/0(%)

Speed humps (metal)

5

33

24

40

30

 

4. Interpretation

In this determination, unless the context otherwise requires, expressions have the same meaning as in the Income Tax Act 2004 and the Tax Administration Act 1994.

This determination is signed by me on the 5th day of December 2007.

 

Susan Price
Senior Tax Counsel, Public Rulings