Section EE 18 — Income Tax Act 2007: Cost: change from diminishing value to straight-line method

EE 18 Cost: change from diminishing value to straight-line method When this section applies (1) This section applies when a person changes from the diminishing value method to the straight-line method for an item of property for an income year. How straight-line method applies (2) For the purposes of the formulas in sections EE 16 and EE 17 , the item’s cost is treated as being the item’s adjusted tax value at the end of the income year before the deduction of an amount of depreciation loss for the item for the income year. Defined in this Act: adjusted tax value , amount , deduction , depreciation loss , diminishing value method , income year , property , straight-line method , Compare: 2004 No 35 s EE 18