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Thread: DVS to a Rental

  1. #1

    Default DVS to a Rental

    Is there anything I can claim back from adding a DVS to a rental ?

  2. #2
    Join Date
    Feb 2004
    Location
    Wellington
    Posts
    2,535

    Default

    Of course.....why wouldn't there be????

    Cheers
    Spaceman
    Delightfully in need of some Tender Loving Care
    Blessed are those who can give without remembering and take without forgetting
    Some things are not as they seem, nor are they otherwise

  3. #3

    Default

    I'm wondering if the new tax rules means you cannot claim expense or depreciation.
    So what are the rules concerning a DVS ?

  4. #4
    Join Date
    Dec 2011
    Posts
    260

    Default

    I read somewhere that if item is built in, it is considered part of the building and you can't claim depreciation, eg you can't claim depreciation as expense for a built in wall oven, but you can claim depreciation for a stand alone oven. No doubt I will find out soon once accountant finishes my tax return, since I got a chattels valuation for a property bought last year that had dvs built in throughout.

  5. #5
    Join Date
    Apr 2010
    Location
    Auckland
    Posts
    302

    Default

    You can capitalise and depreciate it.
    NZ Tax fixed fee accounting, we are an online accounting practice. Our integration with Xero and our unique approach provides provides superior value to our clients.

  6. #6

    Default

    Ok.. thanks all.. I wonder if there is anything on the ird website when specifies whats in or out.

  7. #7
    Join Date
    Feb 2004
    Location
    Wellington
    Posts
    2,535

    Default

    Delightfully in need of some Tender Loving Care
    Blessed are those who can give without remembering and take without forgetting
    Some things are not as they seem, nor are they otherwise

  8. #8

    Default

    According to this link, ventilation systems in roof cavity have a useful life of 10 years, Depreciation - DV 20%, SL 13.5%.

    http://www.ird.govt.nz/technical-tax...ter-dep80.html

    The list at this link is dated November 2011 and is v useful.

  9. #9

    Default

    Awesome thanks guys.. very useful


 

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