Home
Forms Library
Interpretation Statement IS 10 01

Interpretation Statement IS 10 01 2026

Interpretation Statement IS 10 01 Preview on Page 1

See details

4.5 out of 5

29 votes

The Interpretation Statement IS 10/01 provides guidance on the depreciation of items within residential rental properties, outlining a three-step test to determine whether an item is a separate depreciable asset or part of the building. It emphasizes that items distinct from the building can be separately depreciated, while those integral to the structure must be depreciated as part of the building. The statement also discusses relevant legislation and case law, concluding that a combined asset versus component assets approach should be applied consistently across different tax acts. Examples illustrate how various items, such as plumbing, electrical wiring, and kitchen cupboards, are treated for depreciation purposes.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

How to use or fill out Interpretation Statement IS 10 01 with our platform

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Click ‘Get Form’ to open the Interpretation Statement IS 10 01 in the editor.
Begin by reviewing the Summary section, which outlines the key points regarding depreciation for residential rental properties. This will help you understand the context of the form.
Move to the Application section and fill in any required fields that pertain to your specific situation regarding residential rental properties.
In the Background section, ensure you understand how different items are categorized as part of a building or separate assets. This knowledge is crucial for accurate completion.
Proceed to complete sections on Legislation and Analysis, ensuring all relevant legislative references are noted accurately.
Utilize our platform's commenting feature to add notes or questions about specific sections as you fill them out, enhancing clarity and understanding.
Once completed, review all entries for accuracy before saving or exporting your document directly from our platform.

Start using our platform today for free to streamline your document editing and form completion!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the difference between 4% and 2.5% capital works?

2.5% means that you can claim deductions for 40 years and 4% means for 25 years. You can start claiming capital works deductions only when construction of the relevant capital works is completed.

Are curtains depreciable?

The lifespan of blinds and curtains is 10 years, and is depreciable by 10% per year.

What is 30% depreciation on plant and machinery?

30% depreciation rate is applicable for the following types of plant and machinery: Motor buses, motor lorries and motor taxis used in a business of running them on hire. Moulds used in rubber and plastic goods factories.

What is the IRD depreciation rate?

Depreciation for non-residential buildings was reintroduced for the 2020-21 to 2023-24 income years. The depreciation rate for non-residential buildings was 2% diminishing value or 1.5% straight-line. From the 2024-25 income year, the depreciation rate for non-residential buildings returned to 0%.

Try more PDF tools