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  1. #1
    Join Date
    Feb 2010
    Posts
    305

    Default Depreciation rate for Fence?

    Hi
    Cannot find the Depreciation rate for Fences on the IRD site.
    Anyone now what the DV % might be?
    Thanks
    Richard

  2. #2
    Join Date
    Feb 2010
    Posts
    305

    Default

    Hi
    Also would the cost of removing a Tree to enable the fence to be replaced also be lumped in with
    the cost of the fence?
    Thanks
    Richard

  3. #3
    Join Date
    Mar 2015
    Location
    Brisbane Wellington Auckland
    Posts
    774

    Default

    Quote Originally Posted by richard56 View Post
    Hi
    Cannot find the Depreciation rate for Fences on the IRD site.
    Anyone now what the DV % might be?
    Thanks
    Richard
    10 % Dv
    https://interact2.ird.govt.nz/forms/...712133DAC3A0E8

    2006 and future rates

    Depreciation rate finder results for asset search



    Asset Asset category Diminishing value Diminishing value + 20% for qualifying assets acquired on or before 20 May 2010 Straight line Straight line + 20% for qualifying assets acquired on or before 20 May 2010
    Fences BDFO 10 12 7 8.4
    Fences BUIL 10 12 7 8.4



    Key to asset categories


    BDFO Building fit-out (when in books separately from building cost)
    BUIL Buildings and structures




    Hyperlink to ' How to find the right rate'


    Once you've found the rate that applies, you can work out the depreciation with our Depreciation calculator.






    Download a PDF version of these results. (opens in a new window)
    Perform another search.





    For more info on government services go to newzealand.govt.nz
    © Copyright 2007 Inland Revenue

    Last edited by Beano; 03-04-2018 at 09:07 PM.

  4. #4

    Default

    Isn't there a specific asset depreciation schedule for residential rentals? I don't recall seeing fences on there. Can someone confirm the fencing depreciation in the links beano shared can be applied to residential rental properties?

  5. #5
    Join Date
    Oct 2013
    Posts
    1,609

    Default

    Quote Originally Posted by Don't believe the Hype View Post
    Isn't there a specific asset depreciation schedule for residential rentals? I don't recall seeing fences on there. Can someone confirm the fencing depreciation in the links beano shared can be applied to residential rental properties?
    I've always depreciated rental property fencing at the IRD rates. Don't see how it's any different to commercial property fencing, or any other fence for that matter.
    AAT Accounting Services - Property Specialist Accounting - AATAccounting.co.nz
    Lower fees for investors, traders & real estate agents!
    [email protected] for more information.

  6. #6

    Default

    Brilliant - thanks Anthony. I will be following your lead.

  7. #7
    Join Date
    Feb 2010
    Posts
    305

    Default

    Thank Beano.
    I did actually see that one but like "Don't believe..." it wasn't under Residential Rentals so didn't think it was the correct one.
    Now I know better.
    Thanks
    Richard

  8. #8

    Default

    Hi Richard

    The cost of the tree removal - If you paid for this on a different day and it was less than $500, then this would be allowed as Repairs & Maintenance - maintenance done on the grounds upkeep (and trimming trees is a landlord responsibility).

    For the fence replacement - you are correct. The whole fence is substantially being replaced and rebuilt, so it is an asset that needs to be depreciated.

    Cheers

    Murray
    Rental Coach
    rentalcoach.co.nz


 

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