19 Jun 2015
COMMISSIONER OF INLAND REVENUE v TRUSTPOWER LIMITED [2015] NZCA 253
- Citation
- [2015] 3 NZLR 658
- Court
- Court of Appeal
Expenditure was capital in nature because it was incurred to extend Trustpower's profit‑making structure by advancing potential generation projects in its development pipeline and to secure valuable resource consents (enduring capital options); therefore the deductions under s DA 1 were disallowed and the Commissioner's reassessments confirmed; the classification of particular post-commitment items is remitted to the High Court.