TIB - October 2005
Legislation and determinations
- General depreciation determination DEP53
Notice of withdrawal
Standard practice statement
- Income equalisation deposits and refunds – SPS 05/09
Legal decisions – case notes
- Use of section 17 Notices upheld: Vinelight Nominees Limited v CIR
- Struck-off company has no rights: Wire Supplies and Waikato Brokers Ltd v TRA and CIR
- Taxpayer unsuccessful in appealing TRA decision on Russell template: N T H Douglas v CIR
Question we've been asked
- Henderson Group PLC (formerly HHG PLC) capital reduction—confirmation of tax implications for New Zealand shareholders
Corrections
Dairy farm milking shed building, plant and machinery - general depreciation determination
In the item published under the section “Legislation and determinations” in Tax Information Bulletin Vol 17, No 8 (October 2005), p 5, under “2. Determination”, the deleted general asset class for milking machinery, its estimated useful life, and diminishing value and straightline depreciation rates (in the table in the first bullet point) was incorrectly duplicated in the table in the third bullet point. The table in the third bullet point should read:
| Dairy plant | Estimated useful life (years) | DV banded dep'n rate (%) | SL equiv banded dep'n rate (%) |
| Milk storage vat/silo (on farm) | 15.5 | 12 | 8 |
| Compressor (refrigerant)(on farm) | 12.5 | 15 | 10 |