LI 2015/141
Issued
2015

Income Tax (Maximum Pooling Value) Order 2015

2015 Order in Council increases the maximum pooling value, where taxpayers can group assets together and depreciate them as if they were a single asset.

Under the pooling method of depreciation, taxpayers can group assets together and depreciate them as if they were a single asset.

Depreciation for assets in the pool is calculated based on a single rate. The rate must be the lowest depreciation rate that applies to any asset in the pool. Each asset must be worth less than the maximum pooling value, which was $2,000.

The Income Tax (Maximum Pooling Value) Order 2015, made on 2 June 2015, increased the maximum pooling value from $2,000 to $5,000, and applies to depreciation calculations made for the 2015-16 tax year.

The increase came into force on 1 July 2015.

Income Tax (Maximum Pooling Value) Order 2015 (LI 2015/141)