IRD and depreciation

IRD and depreciation

What do IRD have to say


For the Investor

IR264 – Rental income

An overview of the tax treatment of rental properties.

“Assets such as the stove and carpets, that are part of the property or used in your rental activity, will eventually reduce in value through wear and tear or by becoming out of date. This reduction in value of your assets is known as depreciation. Each year you calculate the depreciation amount and deduct it as an expense”

Download the full document here



For the Property Professional

IR260 – Depreciation for businesses

An overview of depreciation and all of the available deprecation rates.

“This publication explains how to claim depreciation on your business assets. You’re required to claim depreciation when you aquire an asset for your business and account for it when you dispose of that asset.”

Download the full document here

Interpretation Statement 10/01

Click here to download a copy of the interpretation statement “Residential Rental Properties – Depreciation of Items of Depreciable Property”

This document took over 10 years to complete and changed the way we complete depreciation schedules for Residential Property. The positive is that it finally gave us all clarity on what we could claim.

VALUBOOK – a complete guide for accountants

The VALUBOOK is compiled by VALUIT for Accounatants, and is a step by step guide to help you identify if a specialist depreciation apportionment can be completed for your client. The result is accurate opening book values across the property that will ensure compliance with IRD requirements for your client and provide a positive impact on cashflow.

For you it’s about peace of mind in knowing the assessment has been completed by experts.

The VALUBOOK compiles extracts from various IRD publications, and structures it to give you increased confidence in advising clients on property depreciation matters.

The VALUBOOK contains 2 parts

  1. A full guide on depreciation
  2. Flow charts to help you through the process when talking with clients.