New Zealand Inland Revenue has published an updated general depreciation rates guide, which sets out the rates for both diminishing value (DV) and straight line (SL) that apply for assets other than buildings acquired on or after 1 April 2005, and buildings acquired on or after 19 May 2005. The guide also provides a general overview of depreciation requirements. In general, taxpayers must claim depreciation, although an election can be made to treat an asset as non-depreciable. For assets ac…