Chattels Depreciation Calculator.
See how much you can deduct over the next 10 years for heat pumps, carpets, ovens, and 20+ other rental chattels — IRD DEP80 rates baked in.
Add a chattel and a cost to see deductions.
Updates as you type — no signup needed.
Chattels depreciation is real money.
The building can't be depreciated anymore. But everything inside still can — heat pumps, carpet, curtains, appliances, hot water cylinders. A typical fit-out delivers $3k–$8k a year in deductions for the first decade. Most landlords leave it on the table.
DV vs SL
Diminishing Value front-loads deductions; Straight Line spreads evenly. DV is the default choice for most NZ landlords because it brings deductions forward.
Low-value rule
Anything ≤ $1,000 is fully deductible in year one — don't waste a depreciation schedule on a $250 microwave.
Investment Boost
20% bonus deduction in year one on qualifying new assets bought after 22 May 2025. IRD hasn't confirmed it applies to residential rentals — confirm with your accountant.
IRD DEP80 chattel rates.
These are the rates the calculator uses by default — taken straight from IRD's Determination DEP80 for residential rental property chattels.
| Chattel | DV % | SL % | Useful life |
|---|---|---|---|
| Heat pump / air conditioner | 20% | 13.5% | 10 yrs |
| Air-ventilation system | 20% | 13.5% | 10 yrs |
| Electric heater (fixed) | 67% | 67.0% | 3 yrs |
| Gas heater (portable, not flued) | 40% | 30.0% | 5 yrs |
| Dehumidifier (portable) | 50% | 40.0% | 4 yrs |
| Hot water cylinder (electric/gas) | 13% | 8.5% | 15.5 yrs |
| Solar water heater | 20% | 13.5% | 10 yrs |
| Heat-pump water heater | 20% | 13.5% | 10 yrs |
| Over-sink water heater | 20% | 13.5% | 10 yrs |
| Chattel | DV % | SL % | Useful life |
|---|---|---|---|
| Oven | 25% | 17.5% | 8 yrs |
| Stove / cooktop | 25% | 17.5% | 8 yrs |
| Refrigerator | 25% | 17.5% | 8 yrs |
| Freezer | 25% | 17.5% | 8 yrs |
| Dishwasher | 30% | 21.0% | 6.66 yrs |
| Washing machine | 30% | 21.0% | 6.66 yrs |
| Clothes dryer | 30% | 21.0% | 6.66 yrs |
| Microwave oven | 50% | 40.0% | 4 yrs |
| Small appliance (kettle, toaster) | 50% | 40.0% | 4 yrs |
| Waste disposal unit | 25% | 17.5% | 8 yrs |
| Crockery | 67% | 67.0% | 3 yrs |
| Cutlery | 67% | 67.0% | 3 yrs |
| Glassware | 67% | 67.0% | 3 yrs |
| Utensils (pots & pans) | 67% | 67.0% | 3 yrs |
| Chattel | DV % | SL % | Useful life |
|---|---|---|---|
| Carpet | 25% | 17.5% | 8 yrs |
| Curtains | 25% | 17.5% | 8 yrs |
| Drapes | 25% | 17.5% | 8 yrs |
| Blinds | 25% | 17.5% | 8 yrs |
| Chattel | DV % | SL % | Useful life |
|---|---|---|---|
| Smoke / burglar alarm | 30% | 21.0% | 6.66 yrs |
| Lawn mower | 50% | 40.0% | 4 yrs |
| Clothesline | 25% | 17.5% | 8 yrs |
| Awning | 20% | 13.5% | 10 yrs |
| Mailbox | 13% | 8.5% | 15 yrs |
| Satellite dish | 16% | 10.5% | 12.5 yrs |
| Chattel | DV % | SL % | Useful life |
|---|---|---|---|
| Loose furniture | 20% | 13.5% | 10 yrs |
| Bedding | 67% | 67.0% | 3 yrs |
| Linen | 67% | 67.0% | 3 yrs |
| Light shades / fashion fittings | 20% | 13.5% | 10 yrs |
| Stereo | 40% | 30.0% | 5 yrs |
| Television | 40% | 30.0% | 5 yrs |
| Vacuum cleaner | 67% | 67.0% | 3 yrs |
| Other chattels (default class) | 40% | 30.0% | 5 yrs |
Source: IRD Determination DEP80
Common chattel questions.
What are chattels?+
Anything in the rental property that isn't part of the building structure — heat pumps, carpets, curtains, ovens, fridges, dishwashers, hot water cylinders, lawn mowers, etc. You can deduct their cost over time as depreciation.
Why can I depreciate chattels but not the building?+
Residential rental buildings haven't been depreciable since the 2011-12 income year. Chattels are treated as separate depreciable assets and remain fully claimable using the rates set out in IRD Determination DEP80.
What's the difference between DV and SL?+
Diminishing Value (DV) calculates depreciation off the remaining book value each year — front-loaded deductions. Straight Line (SL) calculates a fixed amount of original cost each year. DV gives bigger deductions earlier; SL gives even spread. Most NZ landlords use DV.
What's a low-value asset?+
Any chattel costing $1,000 or less (in your property's GST basis) can be expensed in full in the year you buy it — no need to depreciate. The calculator flags these automatically.
What is Investment Boost?+
From 22 May 2025, businesses can claim an extra 20% deduction in year one on new depreciable assets (then standard depreciation on the remaining 80%). IRD has not formally clarified whether this applies to residential rental chattels — we expose it as an opt-in toggle, with a caveat to confirm with your tax advisor.
Should I include GST in the cost?+
Match the cost basis your property uses. Most residential rentals are not GST-registered, so chattels are recorded GST-inclusive. Commercial properties and short-stay (e.g. Airbnb earning over $60k/year) are usually GST-registered, so use GST-exclusive cost.
What happens at the end of the chattel's useful life?+
Under DV, book value tails off but never quite hits zero. When you dispose of the asset, any remaining book value becomes a deductible loss (or, if you sold for more than book value, taxable recovery). This calculator doesn't model disposal — it projects the deduction stream.
Zelvo handles the schedule.
Add chattels once, log purchase dates, and Zelvo runs depreciation through every FY — including pro-rata in the year of purchase, additions, disposals, and Investment Boost. Your IR3 figures stay current.
This is a guide only, not tax advice. Tax rules change each year and your situation may involve factors not covered here. Consult a registered NZ tax professional or chartered accountant before filing. Zelvo accepts no liability for errors in tax calculations or filings made using this tool.