Provisional Depreciation Determination PROV15

This determination may be cited as "Determination Prov15: Tax Depreciation Rates Provisional Determination Number 15". The determination replaces "Determination Prov8: Tax Depreciation Rates Provisional Determination Number 8" issued on 11 October 2001.

1. Application
   This determination applies to taxpayers who own assets in the "Agriculture, Horticulture and Aquaculture" industry category that are in the provisional asset class set out below.
   
   This determination applies to "depreciable property" other than "excluded depreciable property" for the 2005/2006 and subsequent income years.
2. Determination
   Pursuant to section 91AAG(4) of the Tax Administration Act 1994 I hereby amend Determination DEP1: Tax Depreciation Rates General Determination Number 1 (as previously amended) by:
• Deleting from the "Agriculture, Horticulture and Aquaculture" industry category the provisional asset class, estimated useful life, and diminishing value and straight-line depreciation rates listed below:

Agriculture, Horticulture and Aquaculture	Estimated useful life (years)	DV banded dep'n rate (%)	Sl equiv banded dep'n rate (%)
Trough covers (polyethylene)	5	33	24

• Inserting into the "Agriculture, Horticulture and Aquaculture" industry category, the provisional asset class, estimated useful life, and diminishing value and straight-line depreciation rates listed below. Columns 3 and 4 apply to items purchased prior to 1 April 2005. Columns 5 and 6 apply to items purchased on or after 1 April 2005:

1	2	3	4	5	6
Provisional asset class	Estimated useful life (years)	DV banded dep'n rate before 1/4/05 (%)	Sl equiv banded dep'n rate before 1/4/05 (%)	DV banded dep'n rate from 1/4/05 (%)	Sl equiv banded dep'n rate from 1/4/05 (%)
Trough covers (plastic)	5	33	24	40	30

3. Interpretation
   In this determination, unless the context otherwise requires, expressions have the same meaning as in the Income Tax Act 2004 and the Tax Administration Act 1994.
   
   This determination is signed by me on the 28th day of June 006.

Susan Price
Senior Tax Counsel