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New Zealand Inland Revenue Consulting on Draft Guidance on the Depreciation of Low-Value Assets

|Proposed Changes|New Zealand
New Zealand

New Zealand Inland Revenue has published a draft interpretation statement for consultation, Income tax – Depreciation of low-value assets. The interpretation statement explains the existing income tax rules that allow a taxpayer to claim a depreciation loss deduction for the full capital cost of an item of depreciable property where the item's cost does not exceed a specified threshold. It also explains how the rules work when a taxpayer purchases items of property together, and how deprecia…

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