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Income Tax Act 2007

Timing and quantifying rules - Terminating provisions

EZ 20: Adjusted tax value for software acquired before 1 April 1993

You could also call this:

“How to calculate the tax value of software purchased before April 1993”

If you bought software before 1 April 1993 and got a tax deduction for it, this law applies to you. It covers the copyright in software, the right to use the copyright, or the right to use the software itself.

The adjusted tax value of your software is how much you paid for it, minus all the tax deductions you were allowed to claim for it.

This rule helps you figure out the current value of your old software for tax purposes. It’s important to know this if you’re still using or selling the software now.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM1516053.

Topics:
Money and consumer rights > Taxes
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EZ 21: Sections EE 45 and EE 47: permanent removal: allowance before 1 April 1995, or

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Part E Timing and quantifying rules
Terminating provisions

EZ 20Adjusted tax value for software acquired before 1 April 1993

  1. This section applies to any of the following items for the acquisition of which a person was allowed a deduction before 1 April 1993:

  2. the copyright in software:
    1. the right to use the copyright in software:
      1. the right to use software.

        1. The adjusted tax value of the item is its cost to the person minus all deductions that the person was allowed for it.

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