Tax Depreciation Rates General Depreciation Determination
Determination DEP60 (Nov 2006) sets a general depreciation rate for builders' planks (wooden).
This determination may be cited as "Determination DEP60: Tax Depreciation Rates General Determination Number 60".
- Application
This determination applies to taxpayers who own the asset class listed below.
This determination applies to "depreciable property" other than "excluded depreciable property" for the 2006/2007 and subsequent income years. - Determination
Pursuant to section 91AAF of the Tax Administration Act 1994 I hereby amend Determination DEP 1: Tax Depreciation Rates General Determination Number 1 (as previously amended). - Inserting into the "Contractors, builders, and quarrying" industry category the general asset class, estimated useful life, and diminishing value and straight-line depreciation rate listed below:
- Interpretation
In this determination, unless the context otherwise requires, expressions have the same meaning as in the Tax Administration Act 1994 and the Income Tax Act 2004.
| Contractors, building and quarrying | Estimated useful life(years) | DV banded dep'n rate(%) | SL equivalent banded dep'n rate(%) |
|---|---|---|---|
| Builders' planks (wooden) | 3 | 67 | 67 |
This determination is signed by me on the 20th day of November 2006.
Susan Price
Senior Tax Counsel