DEPRECIATION ON HOTELS
Association Urges
Revised Rates
(N.Z. Press Association) AUCKLAND, June 20.
It was utterly ridiculous that the life of an hotel should be 100 years, Mr S. L. Moses, of Wellington, told the convention of the Travel and Holidays Association at the week-end. It was decided that, in order to recognise the special position of the tourist accommodation industry in catering for the trade, special incentives were required and revised depreciation allowances were warranted. Depreciation on buildings was suggested at 2 per cent for reinforced concrete, 21 per cent for brick or concrete walls and 2j per cent for wood. Mr Moses said the present depreciation rate on reinforced concrete structures was now 1 per cent, making their expected life 100 years.
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Press, Volume CIV, Issue 30782, 21 June 1965, Page 12
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124DEPRECIATION ON HOTELS Press, Volume CIV, Issue 30782, 21 June 1965, Page 12
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