Plain language law

New Zealand law explained for everyone

Income Tax Act 2007

Income - Recoveries

CG 1: Amount of depreciation recovery income

You could also call this:

“Money from selling depreciated items counts as income”

If you have depreciation recovery income, it counts as part of your income. Depreciation recovery income is money you get back from selling something that you’ve claimed depreciation on before. When you receive this type of income, you need to include it when you’re figuring out your total income.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1512830.

Topics:
Money and consumer rights > Taxes
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Part C Income
Recoveries

CG 1Amount of depreciation recovery income

  1. An amount of depreciation recovery income that a person has is income of the person.

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