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General Depreciation Determination DEP54

This determination may be cited as "Determination DEP54: Tax Depreciation Rates General Determination Number 54".

  1. Application
    This determination applies to taxpayers who own depreciable property of the kind referred to in paragraph 2 below and applies for income years corresponding to the 2005–06 and subsequent tax years.
  2. Determination
    Pursuant to section 91AAF of the Tax Administration Act 1994, I hereby amend Determination DEP1: Tax Depreciation Rates General Determination Number 1 (as previously amended), hereinafter referred to as "DEP1", by inserting the diminishing value and straight-line economic depreciation rates as follows:
    • In respect of the kinds of items of depreciable property for which the economic rate of depreciation is set under section EE 25B of the Income Tax Act 2004, and being a kind of item of depreciable property that is a general asset class as specified in DEP1 having an estimated useful life, applicable diminishing value banded depreciation rate and straight-line equivalent banded depreciation rate listed in columns 1, 2 and 3 respectively below, by inserting the respective diminishing value and straight-line depreciation rates listed in columns 4 and 5 below:
1 2 3 4 5
Estimated useful life (years) DV banded dep'n rate (%) SL equiv banded dep'n rate (%) DEP54 DV banded dep'n rate (%) DEP54 SL equiv banded dep'n rate (%)
100
2
1.5
2
1.5
50
4
3
4
3
33.3
6
4
6
4
25
7.5
5.5
8
6
20
9.5
6.5
10
7
15.5
12
8
13
8.5
12.5
15
10
16
10.5
10
18
12.5
20
13.5
8
22
15.5
25
17.5
6.66
26
18
30
21
5
33
24
40
30
4
40
30
50
40
3
50
40
67
67
2
63.5
63.5
100
100
1
100
100
100
100
  • In respect of the kinds of items of depreciable property for which the economic rate of depreciation is set under section EE 25C of the Income Tax Act 2004, and being a kind of item of depreciable property that is a general asset class as specified in DEP1 having an estimated useful life, applicable diminishing value banded depreciation rate and straight-line equivalent banded depreciation rate listed in columns 1, 2 and 3 respectively below, by inserting the respective diminishing value and straight-line depreciation rates listed in columns 4 and 5 below
1 2 3 4 5
Estimated useful life (years) DV banded dep'n rate (%) SL equiv banded dep'n rate (%) DEP54 DV banded dep'n rate (%) DEP54 SL equiv banded dep'n rate (%)
100
2
1.5
1.3
1
50
4
3
3
2
33.3
6
4
4.5
3
25
7.5
5.5
6.5
4
20
9.5
6.5
8.5
5
15.5
12
8
11
6.5
12.5
15
10
13.5
8
  1. Interpretation
    In this determination, unless the context otherwise requires, expressions have the same meaning as in the Income Tax Act 2004.

This determination is signed by me on the 27th day of April 2006.

Susan Price
Senior Tax Counsel