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Technical tax area Ngā tūmomo whakataunga me ngā aratohu

Provisional Depreciation Determination PROV14

This determination may be cited as "Determination Prov14: Tax Depreciation Rates Provisional Determination Number 14". The determination replaces "Determination Prov12: Tax Depreciation Rates Provisional Determination Number 12" issued on 1 December 2004.

  1. Application
    This determination applies to taxpayers who own assets in the provisional asset class set out below.

    This determination applies to "depreciable property" other than "excluded depreciable property" for the 2005/2006 and subsequent income years.
  2. Determination
    Pursuant to section 91AAG(4) of the Tax Administration Act 1994 I hereby amend Determination DEP1: Tax Depreciation Rates General Determination Number 1 (as previously amended) by:
    • Deleting from the "Hotels, motels, restaurants, cafés, taverns and takeaway bars", "Residential rental property chattels" and "Shops" industry categories and the "Office equipment and furniture" asset category, in the appropriate alphabetical order, the provisional asset class, estimated useful life, and diminishing value and straight-line depreciation rates listed below.
    • Office equipment and furniture Estimated useful life (years) DV banded dep'n rate (%) Sl equiv banded dep'n rate (%)
      Integrated silk flower arrangements 2 63.5 63.5
    • Inserting into the "Hotels, motels, restaurants, cafés, taverns and takeaway bars", "Residential rental property chattels" and "Shops" industry categories and the "Office equipment and furniture" asset category, in the appropriate alphabetical order, the provisional asset class, estimated useful life, and diminishing value and straight-line depreciation rates listed below. Columns 3 and 4 apply to items purchased prior to 1 April 2005. Columns 5 and 6 apply to items purchased on or after 1 April 2005:
    • 123456
      Provisional asset lass Estimated useful life (years) DV banded dep'n rate before 1/4/05 (%) Sl equiv banded dep'n rate before 1/4/05 (%) DV banded dep'n rate from 1/4/05 (%) Sl equiv banded dep'n rate from 1/4/05 (%)
      Integrated silk flower arrangements 2 63.5 63.5 100 100
  3. 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 28th day of June 006.

Susan Price
Senior Tax Counsel