2022 CPI adjustment to Operational Statement OS 19/03: Square metre rate for the dual use of premises

In accordance with Section DB 18AA of the Income Tax Act 2007, the Commissioner advises that the square metre rate for the 2022 income year (1 April 2021 to 31 March 2022) is set at $47.85.  The amount reflects the June 2019 Household Economic Survey utility costs information sourced from Statistics New Zealand (adjusted for inflation) and the annual movement of the Consumers Price Index for the twelve months to March 2022, which showed an increase of 6.9%.

Operational Statement OS 19/03: Square metre rate for the dual use of premises provides further information on the use of the square metre rate.