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General Depreciation Determination DEP68

This determination may be cited as "Determination DEP68: Tax Depreciation Rates General Determination Number 68".

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 2008.

This determination applies for the 2008/09 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:

  • Inserting into the "Telecommunications" industry category the general asset classes, estimated useful lives, and diminishing value and straight-line depreciation rates listed below:

     

    Telecommunications

    Estimated useful life (years)

    DV banded dep'n rate (%)

    SL equiv banded dep'n rate (%)

    Satellites (geosynchronous orbit)

    15

    13

    8.5


3.  Consequential change

As a consequence of this determination, an existing general asset class is no longer required and so it is necessary to:

  • Delete from the "Telecommunications" industry category the general asset class, estimated useful life and diminishing value and straight-line depreciation rates listed below:

     

    Telecommunications

    Estimated useful life (years)

    DV banded dep'n rate (%)

    SL equiv banded dep'n rate (%)

    Satellites

    5

    33

    24


4.  Interpretation

In this determination, unless the context otherwise requires, expressions have the same meaning as in the Income Tax Act 2007 and the Tax Administration Act 1994.

This determination is signed by me on the 9th day of May 2008.

Susan Price
Senior Tax Counsel
Public Rulings