Section EC 33 — Income Tax Act 2007: Determining depreciation percentages

EC 33 Determining depreciation percentages Determined by Commissioner (1) The Commissioner must determine a depreciation percentage for an income year for each type, class, or category of high-priced livestock. Purpose (2) The percentage represents the average percentage decline in the value of livestock of the type, class, or category. Factors (3) The Commissioner must take into account— (a) the average cost of livestock of the type, class, or category; and (b) the estimated useful life of the livestock; and (c) the average estimated residual market value of the livestock. Defined in this Act: class , Commissioner , depreciation percentage , estimated residual market value , estimated useful life , high-priced livestock , income year , type , Compare: 2004 No 35 s EC 33