An election can be made to not depreciate an asset. This notification should be attached to the tax return for the income year. 1 This is helpful when you work from home in a small area set aside for business and change your asset's use from non-business to business. 2 1. https://www.ird.govt.nz/-/media/project/ir/home/documents/forms-and-guides/ir200---ir299/ir260/ir260-2020.pdf 2. https://www.ird.govt.nz/-/media/project/ir/home/documents/forms-and-guides/ir300---ir399/ir320/ir320-2022.pdf
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