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Tax Administration Act 1994

Determinations

91AAB: Determinations relating to types and diminishing values of listed horticultural plants

You could also call this:

"Rules for listing and valuing horticultural plants for tax purposes"

Illustration for Tax Administration Act 1994

The Commissioner can decide what types of horticultural plants are listed. You can find the rules for this in sections DO 5 to DO 9 of the Income Tax Act 2007. The Commissioner can also decide the rate to use when working out the diminishing value of these plants, as set out in Schedule 12. When making a decision, the Commissioner thinks about how long the plant will be useful. They can also consider why the plant is being grown and how it is being looked after. The decision can say which income years it applies to, but it cannot apply to years before 2003-04. The Commissioner can change or cancel earlier decisions. If you are affected by a decision, you can dispute it under Parts 4A and 8A. The Commissioner must publish a notice about the decision within 30 days, saying where you can get a copy of it. This notice is published in a place chosen by the Commissioner. It tells you that a decision has been made and where you can get a copy of it.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM353626.

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Part 5Determinations

91AABDeterminations relating to types and diminishing values of listed horticultural plants

  1. For the purpose of sections DO 5 to DO 9 of the Income Tax Act 2007, the Commissioner may determine—

  2. that a type of horticultural plant, tree, vine, bush, cane, or other similar plant that is cultivated on land, is a type of listed horticultural plant:
    1. the banded rate set out in Schedule 12, column 1 of that Act that is to be used to calculate the diminishing value for a type of listed horticultural plant.

      1. In making a determination, the Commissioner must take into account the estimated useful life of the type of plant, and may also take into account—

      2. the main purpose for which the type of plant is cultivated:
        1. the manner in which the type of plant is cultivated and managed.

          1. The determination may set out the income year or income years for which it is to apply, but may not apply for income years before the 2003–04 income year.

          2. The determination may provide for the extension, limitation, variation, cancellation or revocation of an earlier determination.

          3. A person affected by a determination made under this section may dispute or challenge the determination under Parts 4A and 8A.

          4. Within 30 days of issuing a determination under this section, the Commissioner must publish a notice in a publication chosen by the Commissioner that—

          5. gives notice that the determination has been issued; and
            1. states where copies of the determination can be obtained.

              Notes
              • Section 91AAB: inserted, on (applying for 2003–04 and subsequent income years), by section 110(1) of the Taxation (Venture Capital and Miscellaneous Provisions) Act 2004 (2004 No 111).
              • Section 91AAB(1): amended, on (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).
              • Section 91AAB(1)(b): amended, on (effective for 2008–09 income year and later income years, unless the context requires otherwise), by section ZA 2 of the Income Tax Act 2007 (2007 No 97).
              • Section 91AAB(6): amended, on , by section 143 of the Taxation (Annual Rates, Trans-Tasman Savings Portability, KiwiSaver, and Remedial Matters) Act 2010 (2010 No 109).