Date posted: 19/05/2022

Submission on Claiming depreciation on buildings

CAANZ’s feedback on IR’s draft interpretation statement – Claiming depreciation on buildings

Inland Revenue’s draft interpretation statement provides guidance to building owners on when they can claim depreciation on buildings. It considers the meaning of “building” for depreciation purposes and the distinction between residential and non-residential buildings.

In CA ANZ’s view the draft statement is comprehensive and includes graphics and detailed examples to illustrate relevant issues. This will be a helpful resource for taxpayers.

CA ANZ suggests some aspects of the item be reviewed and clarified.

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