Queenstown Airport loses bid to keep depreciation tax deductions

Mon, 04 Jul 2016

By Sophie Boot July 4 (BusinessDesk) - Queenstown Airport has lost a dispute with the Inland Revenue Department over whether it should be able to claim depreciation for the cost of constructing its runway end safety area (RESA). Justice Brendan Brown, who heard the case in Wellington's High Court in March, ruled that the IRD was correct in refusing the airport's claim for tax deductions, and awarded costs for two counsel to the IRD. The RESA is an area beyond a runway which is there as a safety zone if a plane undershoots or overruns...

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