2023 CPI adjustment to Operational Statement OS 19/03: Square metre rate for the dual use of premises
This update to OS 19/03 shows the annual adjustment to the 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 2023 income year (1 April 2022 to 31 March 2023) is set at $51.05. The amount reflects the most recent Household Economic Survey utility costs sourced from Statistics New Zealand (in 2019) adjusted annually for inflation, with the annual movement of the Consumers Price Index for the twelve months to March 2023, being 6.7%.
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.