Section EZ 23E — Income Tax Act 2007: Item treated as available for use if access restricted due to Canterbury earthquake

EZ 23E Item treated as available for use if access restricted due to Canterbury earthquake An item of depreciable property is treated for an income year as being available for use while access to the item is affected by a restriction imposed due to the effects of a Canterbury earthquake (as defined in section 4 of the Canterbury Earthquake Recovery Act 2011), if— (a) the item was used or available for use immediately before the restriction was imposed; and (b) the item would be used or available for use in the absence of the restriction; and (c) the income year is the 2015–16 or an earlier income year. Defined in this Act: depreciable property , income year Section EZ 23E: inserted (with effect on 4 September 2010), on 2 November 2012 (applying for the 2010–11 to the 2015–16 income years), by section 59(1) of the Taxation (Annual Rates, Returns Filing, and Remedial Matters) Act 2012 (2012 No 88).