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Determination DEP66: Tax Depreciation Rates General Determination Number 66

Application

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

This determination applies for the 2005/2006 and subsequent income years.

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 tables below by:

  • Adding into the "Hotels, Motels, Restaurants, Cafe's, Taverns and Takeaway Bars", "Residential Rental Property Chattels", and "Telecommunications" industry categories the general asset class, estimated useful life, and diminishing value and straight-line depreciation rates listed in the table below.

     

    General asset class

    Estimated useful life (years)

    DV rate (%)

    SL rate (%)

    Set-top boxes without hard drive and personal video recorders (PVRs) without hard drive

    5

    40

    30

     

  • Adding into the "Hotels, Motels, Restaurants, Cafés, Taverns and Takeaway Bars", and "Residential Rental Property Chattels" industry 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 (%)

    Digital versatile disc (DVD) recorders with hard drive

    4

    50

    40

    Digital versatile disc (DVD) recorders without hard drive

    5

    40

    30

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 4th day of March 2008.

Susan Price
Senior Tax Counsel