Skip to main content

Electing not to depreciate a fixed asset

 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