Draft guidance on depreciation of low-value assets
Inland Revenue seeks feedback on a draft interpretation statement about existing income tax rules for deducting the cost of low-value assets, including grouped purchases and what happens when assets are sold or their use changes.
- Closing date
- 20 November 2026
- Added to Civics
- 14 October 2026
- Source category
- Public service
- Source body
- Inland Revenue Department
- Last checked
- 18 October 2026
Closes in 33 days
Plain-English summary
Inland Revenue seeks feedback on a draft interpretation statement about existing income tax rules for deducting the cost of low-value assets, including grouped purchases and what happens when assets are sold or their use changes.
The draft explains when a taxpayer can deduct an eligible asset's full cost rather than depreciating it over time. This consultation concerns guidance on existing law and does not propose a new deduction threshold.
Read the draft interpretation statement on the official consultation page, then email feedback to public.consultation@ird.govt.nz, quoting PUB00533, by 20 November 2026. No closing time is stated.
Why it matters
The final guidance would explain how Inland Revenue interprets these rules for taxpayers and advisers.
Who may care
- People who account for business assets or prepare income tax returns
How to make a submission
- Read the draft interpretation statement linked from the official consultation page.
- Email feedback to public.consultation@ird.govt.nz and quote reference PUB00533.
- Submit feedback by 20 November 2026. No closing time is stated.
Disclaimer
Civics.nz is an independent plain-English guide and is not an official government website. Always check the official source before making a submission.