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Depreciation rate

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Sayali Tukaram Gidye

Sayali Tukaram Gidye (Querist)
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27 September 2010 What is the depreciation rate for equipment used for construction purpose

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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27 September 2010 From 1 April 2011, the economic rate for buildings with an estimated useful life of 50 years or more is 0%. However, provisional depreciation rates will still be able to be set for classes of buildings. If the Commissioner issues a provisional rate for a class of building stating that it has an estimated useful life of less than 50 years, owners of affected buildings will be able to claim depreciation deductions.

FOR MORE INFO:-https://www.ird.govt.nz/technical-tax/legislation/2010/2010-27/leg-2010-27-building-depreciation/

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