The entire value of a low-value asset can be deducted as depreciation immediately. 1 From 17 March 2021, these are available for assets costing less than $1000. The cost should be excluding GST if registered for GST and including GST if not registered for GST. 1. https://www.ird.govt.nz/income-tax/income-tax-for-businesses-and-organisations/types-of-business-expenses/depreciation/claiming-depreciation
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