You use the rate that corresponds to the effective life of the item of plant. The following tables show the appropriate rates.
Effective life in years |
Prime cost rate % |
Diminishing value rate % |
---|---|---|
Less than 3 |
100 |
- |
3 to less than 5 |
40 |
60 |
5 to less than 6 2/3 |
27 |
40 |
6 2/3 to less than 10 |
20 |
30 |
10 to less than 13 |
17 |
25 |
13 to less than 30 |
13 |
20 |
30 or more |
7 |
10 |
Effective life in years |
Prime cost rate % |
Diminishing value rate % |
---|---|---|
Less than 3 |
100 |
- |
3 to less than 5 |
33 |
50 |
5 to less than 6 2/3 |
20 |
30 |
6 2/3 to less than 10 |
15 |
22.5 |
10 to less than 13 |
10 |
15 |
13 to less than 20 |
8 |
11.25 |
20 to less than 40 |
5 |
7.5 |
40 or more |
3 |
3.75 |
For employees' amenities, special minimum rates of 33% prime cost or 50% diminishing value apply. Employees' amenities means property used mainly to provide clothing cupboards, first aid, rest-room or recreational facilities, and meals or facilities for meals, for certain employees and their children.