Tax Depreciation Rates General Determination Number 64

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 2005.

This determination applies for the 2007/2008 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:

• Adding into the "Leisure" industry category, the general asset classes, estimated useful lives, and diminishing value and straight-line depreciation rates, listed in the table below.

   

  General asset class	Estimated useful life(years)	DV rate (%)	SL rate(%)
  LED Screens (fixed, in use 24 hours per day)	8 years	25%	17.5%
  LED Screens (mobile and transportable)	10 years	20%	13.5%
  LED Screens (fixed)	15.5 years	13%	8.5%

   

• Adding into the "Shop"industry category and "Building Fit-out" asset category, the general asset classes, estimated useful lives, and diminishing value and straight-line depreciation rates, listed in the table below.

   

  General asset class	Estimated useful life(years)	DV rate(%)	SL rate (%)
  LED Screens (fixed, in use 24 hours per day)	8 years	25%	17.5%
  LED Screens (fixed)	15.5 years	13%	8.5%

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 6th day of December 2007

Susan Price
Senior Tax Counsel, Public Rulings