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What is the new value of depreciation for Diminishing Value?

April 26, 2017depreciation diminishing value

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What is the new value of depreciation for Diminishing Value?

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Effective from 10 May 2006 the new rate of depreciation for Diminishing Value is 200% of an asset’s effective life. This new value will apply to all eligible assets both new and second hand acquired on or after 10 May 2006 including assets with statutory caps. For further information about statutory caps and limits please contact your Accountant or Tax Advisor.