Timing and quantifying rules - Terminating provisions
EZ 23D: Insurance for Canterbury earthquake damage of property: limit on depreciation recovery income
You could also call this:
“Old rules about insurance money for earthquake-damaged property in Canterbury”
This part of the law was about insurance for property damaged in the Canterbury earthquakes. It had rules about how much money you could get back from depreciation. Depreciation is when things lose value over time. However, this part of the law doesn’t apply anymore. It was removed on 1 April 2016, so you don’t need to worry about it now. If you want to know more about the current rules, you might need to look at other parts of the law.
EZ 23E: Item treated as available for use if access restricted due to Canterbury earthquake, or
“Old rule for earthquake-affected items no longer applies”
Part E
Timing and quantifying rules
Terminating provisions
EZ 23DInsurance for Canterbury earthquake damage of property: limit on depreciation recovery income (Repealed)
Notes
Section EZ 23D: repealed, on (applying for the 2016–17 and later income years), by section 66(1) of the Taxation (Annual Rates, Foreign Superannuation, and Remedial Matters) Act 2014 (2014 No 4).
