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Depreciation Allowances


Economic rates apply to the purchase of assets. There is an option to use either straight line or diminishing value for all assets. The following assets are examples only.


Economic rates
Assets

Economic Rate (DV)

20% Loading*


Buildings (useful life greater than 50 years)
0%

N/A

Building (useful life less than 50 years, acquired before 31/3/2011)
3%
N/A

Commercial Building
2%
N/A

Computer (acquired after 01/04/05)
50%
60%

Office Furniture
16%
19.2%

Vehicle
30%
36%

*Depreciation loading only applies to qualifying assets purchased on or before 20 May 2010.

Low value assets ($500 or less excluding GST) can be written off.  ($200 or less excluding GST before 19/05/05).

Between 17 March 2020 and 17 March 2021 Low value assets up to ($5,000 or less excluding GST can be written off).

From 17 March 2021 Low value assets apply up to ($1,000 or less excluding GST).


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National Accountants Ltd.
Unit B2, Lucas 18 
18 Oteha Valley Rd Ext

Albany
Auckland, New Zealand

PO Box 300 114
Albany 0752

Phone: 09 415-7518

Fax: 09 415-7511
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