Section EZ 13 — Income Tax Act 2007: Annual rate for item acquired on or after 1 April 1993 and before end of person’s 1994–95 income year

EZ 13 Annual rate for item acquired on or after 1 April 1993 and before end of person’s 1994–95 income year What this section is about (1) This section is about the annual rate that applies to an item of depreciable property that a person acquires before the end of their 1994–95 income year (not including fixed life intangible property or excluded depreciable property, for which rates are set in sections EE 33 (Annual rate for fixed life intangible property) and EZ 15 respectively). Rate (2) The rate is–– (a) the item's economic rate, if the item is not a building that has an economic rate or provisional rate of more than 0% due to an estimated useful life of 50 years or more; or (b) the pre-1993 depreciation rate described in section EZ 14 , if the person chooses under that section; or (c) 0%, for a building that has an economic rate or provisional rate of more than 0% due to an estimated useful life of 50 years or more. Defined in this Act: annual rate , building , depreciable property , economic rate , estimated useful life , excluded depreciable property , fixed life intangible property , income year , provisional rate Compare: 2004 No 35 s EZ 12 Section EZ 13(2) heading: substituted, on 1 April 2011 (applying for the 2011–12 and later income years), by section 85(1) of the Taxation (Budget Measures) Act 2010 (2010 No 27). Section EZ 13(2): substituted, on 1 April 2011 (applying for the 2011–12 and later income years), by section 85(1) of the Taxation (Budget Measures) Act 2010 (2010 No 27). Section EZ 13 list of defined terms building : inserted (with effect on 30 July 2009), on 28 May 2010, by section 84 of the Taxation (Budget Measures) Act 2010 (2010 No 27). Section EZ 13 list of defined terms estimated useful life : inserted, on 1 April 2011 (applying for the 2011–12 and later income years), by section 85(2) of the Taxation (Budget Measures) Act 2010 (2010 No 27). Section EZ 13 list of defined terms provisional rate : inserted, on 1 April 2011 (applying for the 2011–12 and later income years), by section 85(2) of the Taxation (Budget Measures) Act 2010 (2010 No 27).