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The Issues Log

Issue: EE 60(3)(b), EE 51(3)(b), OB 1

Submission Number	110
Submitter	BDO SPICERS WELLINGTON
Section / Provision Income Tax Act 2007	EE 60(3)(b)
Section / Provision Income Tax Act 2004	EE 51(3)(b)
Date Received	06/06/2009
Description of issue	Wording in the 2004 and 2007 Acts for the theoretical \"total deductions\" does not reflect amended 1994 Act. Give examples: If asset is unavailable for any use for a period (e.g. business has ceased, asset in storage pending start of new business), adjusted tax value should not decrease.
Section / Provision Income Tax Act 1994	OB 1 \"Adjusted tax value\" (a) \"ad\" (i)
Status	Pending
Outcome

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