BUILDING DEPRECIATION.
taxation Allowance scale. FIXED BY COMMISSIONER. (By Telegraph.—Parliamentary Reporter.) WELLINGTON, this day. The change in the method of allowing depreciation on buildings in income tax assessment is the subject of a statement by the Acting Minister of Finance, »• the Hon. E. A.. Ransom. Thi3 session's amending Act changed the basis from capital value to unimproved value, and provided for an allowance for depreciation of buildings, which had not been made in recent years; The Commissioner of Taxes is empowered to fix rates of depreciation, the calculation in each case being made on the cost of the building. The Commissioner has decided to adopt the following scale of depreciation allowance: — Wooden frame buildings, 3 per cent. Brick, stone or concrete-walled, 2 per cent. f Reinforced stone or concrete throughout, 1£ per cent. ■ '
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Auckland Star, Volume LXI, Issue 218, 15 September 1930, Page 5
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133BUILDING DEPRECIATION. Auckland Star, Volume LXI, Issue 218, 15 September 1930, Page 5
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