Section EE 14 — Income Tax Act 2007: Diminishing value or straight-line method: calculating amount of depreciation loss

EE 14 Diminishing value or straight-line method: calculating amount of depreciation loss Most depreciable property (1) The amount of depreciation loss that the person has for an income year for an item of depreciable property is the lesser of the amounts dealt with in sections EE 15 and EE 16 . Exclusion: petroleum-related depreciable property (2) The amount of depreciation loss that the person has for an income year for an item of petroleum-related depreciable property is the lesser of the amounts dealt with in sections EE 15 and EE 17 . Defined in this Act: amount , depreciable property , depreciation loss , income year , petroleum-related depreciable property , Compare: 2004 No 35 s EE 14