Does IRD have the Answer yet?
It is now close to a year since IRD made a media announcement around changes to the depreciation regime, this was to be followed by an interpretation statement which has now been done. So does it give us an answer?
The “Interpretation Statement was released on Friday and although we now have some direction, it is not yet set in concrete and will not be for some time. This really doesn’t help you when it comes to filing a return for a client with property. So what are the changes likely to be?
Submissions to IRD for comment are open until 31 March 2007 so please make sure you have your say.
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