income tax act - Fiji Revenue & Customs Authority

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42. It is declared that, for the purpose of paragraph (a) of the subsection
(1) of Section 21 of the Act, any amounts written off under the
authority of this Part shall be deemed to be depreciation.
43. The allowance permitted under this Part is an alternative to any other
depreciation allowances provided under these Instructions or
elsewhere.
44. For the purpose of this Part:-
“multi-storey or multi-unit residential buildings” means a
residential block of flats consisting of at least 2 floors and 6
units;
“same taxpayer “includes a holding company and its subsidiaries,
or companies or partnership which are under the control, as
defined in Section 2 of the Act, of the same person;
“building contractor actively engaged in construction” means
building contractor who has at least 10 employees in
employment as at 1 July 1995”
PART VIII- REVOCATION
45. The Allowances for Depreciation and Improvements Instructions,
1981, are revoked, but without prejudice to paragraph 17(1) of these
instructions or any other right to allowances occurred before the
coming into force of these Instructions.
Dated this 23 rd day of April 1998
J.AH Koy
Minister of Finance