Statute
Section DT 12 — Income Tax Act 2007: Damage to assets
Text of the provision Official document
DT 12 Damage to assets Deduction (1) A petroleum miner is allowed a deduction for the cost of repairing a damaged asset of the kind described in section CT 7(1)(b) or (c) (Meaning of petroleum mining asset). Link with subpart DA (2) This section supplements the general permission and overrides the capital limitation. The other general limitations still apply. Defined in this Act: capital limitation , deduction , general limitation , general permission , petroleum miner , supplement , Compare: 2004 No 35 s DT 12
Official source: legislation.govt.nz
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