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What was the previous value of depreciation for Diminishing Value?

April 26, 2017depreciation diminishing previous value

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What was the previous value of depreciation for Diminishing Value?

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The previous value for the Diminishing Value method of depreciation was 150% of an asset’s effective life for assets acquired up to and including the 9 May 2006. Assets acquired on or before the 9 May 2006 will not change and continue to attract a diminishing value of 150%.