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  1. #1
    Join Date
    Jul 2007
    Location
    Wellington
    Posts
    13

    Default Is a HRV system deductible as a chattel please?

    Hi, Just putting a HRV into a flat, and would like to know if the cost of the HRV is tax deductible in any way please, as an asset that can be depreciated (and at what rate), or is it now 'black hole' expenditure (ie an asset that forms part of the building, and no depreciation)

    Thanks

    Greg

  2. #2
    Join Date
    Jun 2011
    Posts
    158

    Default

    Heat pumps can be depreciated separately. Not to sure if the HRV system will fall into that category.
    The heat pump can depreciated as it is not permanently fixed to the property.

  3. #3
    Join Date
    Feb 2004
    Location
    Wellington
    Posts
    153

    Default

    You won't be able to claim 100% claim upfront like R&M.

    However you will be able to depreciate it. This is similar to a heatpump, while it does get attached/wired to building etc in principle it can be removed and the house can function without out.

    Refer to the IRD website for depreciation rate.

  4. #4
    Join Date
    Jun 2004
    Posts
    10,404

    Default

    Quote Originally Posted by foss View Post
    You won't be able to claim 100% claim upfront like R&M.

    However you will be able to depreciate it. This is similar to a heatpump, while it does get attached/wired to building etc in principle it can be removed and the house can function without out.

    Refer to the IRD website for depreciation rate.
    Just a few holes left in the ceiling!

  5. #5
    Join Date
    Apr 2010
    Location
    Auckland
    Posts
    307

    Default

    Quote Originally Posted by Wayne View Post
    Just a few holes left in the ceiling!
    holes can be patched up.
    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.


 

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