Income Tax Act 2007

Timing and quantifying rules - Depreciation - Definitions

EE 64: Meaning of excluded depreciable property

You could also call this:

"What property can't be claimed as depreciation?"

You need to know what excluded depreciable property means. It means property that you cannot claim depreciation on. This includes property you bought or built before 16 December 1991. You also cannot claim depreciation on property you used before 1 April 1993. This includes intangible items like patents or copyrights. It also includes property that is a qualifying asset or a qualifying improvement for you. However, some property is not excluded if it existed at the end of the 1992-93 income year. The Commissioner must have allowed it to be accounted for using a special method. You can find more information about this in the Income Tax Act 2007.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1514731.

This page was last updated on 29 January 2026 — View changes

Topics:

Money and consumer rights > Taxes

EE 63: Meaning of estimated useful life, or

"How long you can use property to make money before it wears out or becomes outdated"

EE 65: Meaning of maximum pooling value, or

"Highest value allowed for pooling depreciable property"

Part ETiming and quantifying rules
Depreciation: Definitions

EE 64Meaning of excluded depreciable property

Excluded depreciable property means, for a person,—
depreciable property for whose acquisition or construction the person entered into a binding contract before 16 December 1991; or
depreciable property that the person used or had available for use for any purpose whatever within New Zealand, other than as trading stock, before 1 April 1993; or
depreciable property that is an intangible item that the person used or had available for use before 1 April 1993; or
depreciable property that is or has been a qualifying asset for the person; or
depreciable property to the extent to which it is or has been a qualifying improvement for the person.

Excluded depreciable property does not include property to which both the following apply:
it existed at the end of the 1992–93 income year; and
the Commissioner allowed it to be accounted for in that income year using the standard value method, the replacement value method, or the annual revaluation method.

Repealed

Compare

2004 No 35 s EE 55

Notes

Section EE 64(1)(a): amended (with effect on 1 April 2015 and applying for the 2015–16 and later income years), on 24 February 2016, by section 242(1) of the Taxation (Annual Rates for 2015–16, Research and Development, and Remedial Matters) Act 2016 (2016 No 1).
Section EE 64(3) heading: repealed, on 1 April 2020, pursuant to section 11(1) (and see section 11(3) for application) of the COVID-19 Response (Taxation and Social Assistance Urgent Measures) Act 2020 (2020 No 8).
Section EE 64(3): repealed, on 1 April 2020, by section 11(1) (and see section 11(3) for application) of the COVID-19 Response (Taxation and Social Assistance Urgent Measures) Act 2020 (2020 No 8).
Section EE 64 list of defined terms special excluded depreciable property: repealed, on 1 April 2020, by section 11(2) (and see section 11(3) for application) of the COVID-19 Response (Taxation and Social Assistance Urgent Measures) Act 2020 (2020 No 8).