15 Jun 2016
QUEENSTOWN AIRPORT CORPORATION LTD v COMMISSIONER OF INLAND REVENUE [2016] NZHC 1299
- Citation
- [2016] NZHC 1299
- Court
- High Court
The embankment is permanently annexed to the underlying land and the East RESA atop it is not an 'airport runway' as intended in Schedule 13 (the term denotes runways constructed and surfaced to take-off/landing standards subject to wear); the East RESA is grassed topsoil and not 'hardstanding' or a road except for any separate identifiable service access which was not specifically claimed. Consequently the embankment and East RESA are 'land' excluded from depreciable property by s EE7(a) and QAC is not entitled to the claimed depreciation deductions.