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Technical tax area Ngā tūmomo whakataunga me ngā aratohu

Determination DEP86: Tax Depreciation Rates General Determination Number 86


Note to determination DEP86:

The Commissioner has set a general depreciation rate for Frost Fans (mobile) by adding a new asset class to the “Agriculture, Horticulture and Aquaculture” industry category.

Frost Fans (mobile) are used to protect crops from frost conditions and hot temperatures.


Determination DEP86: Tax Depreciation Rates General Determination Number 86

  1. Application
    This determination applies to taxpayers who own depreciable property of the kind listed in the table below.
    This determination applies from the 2013/14 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 kind of items of depreciable property listed in the table below by:
    • Adding into the “Agriculture, Horticulture and Aquaculture” industry category new asset class, estimated useful life, and general diminishing value and straight line depreciation rates as listed below:
       
      Agriculture, horticulture and aquaculture Estimated useful life (years) DV rate (%) SL rate (%)

      Frost Fan (mobile)

      15.5

      13

      8.5

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

This determination is signed on the 5th day of November 2013.

Rob Wells
LTS Manager, Technical Standards