Depreciation

[jace the ace]

Does anyone know wether a garage or a shed are seperate depreciable property when not attached to the building ?

[spaceman]

Depends.....is it a "BUILDING" or a shed????

Depreciation rate for buildings

The rate of depreciation for buildings with an estimated useful life of 50 years or more (as set out in Commissioner's depreciation determinations) - such as rental housing and office buildings - will reduce to 0%. This change comes into effect from the 2011-12 income year.

A building = no depreciation......but if you can manage to classify it as something other than a building then you might be able to claim depreciation.... a chook house for example depreciates @ 8.5% according to ir265

Cheers
Spaceman

[foss]

Yes they are, especially so garden sheds for example. Check IRD website depreciation rate finder

[Rabia]

According to my knowledge yes they are. But take others opinion as well.