Section EE 62 — Income Tax Act 2007: Meaning of depreciable intangible property

EE 62 Meaning of depreciable intangible property Meaning (1) Depreciable intangible property means the property listed in schedule 14 (Depreciable intangible property). Criteria for listing in schedule 14 (2) For property to be listed in schedule 14 , the criteria are as follows: (a) it must be intangible; and (b) it must have a finite useful life that can be estimated with a reasonable degree of certainty on the date of its acquisition. Schedule 14 prevails (3) Property that is listed in schedule 14 is depreciable intangible property even if the criteria are not met. Defined in this Act: acquire , depreciable intangible property , property , Compare: 2004 No 35 s EE 53