You only use the tables below if you are able to use accelerated depreciation. You use the rate that corresponds to the effective life of the item of plant. The following tables show the appropriate rates.
For most general items of plant the accelerated rates are as follows (note that the first four categories are unlikely to apply for currently held items as the rates only apply to items acquired before 1 July 2001 with an effective life of less than ten years):
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 |
For most cars and motorcycles the following rates apply (note that the first four categories are unlikely to apply for currently held cars and motorcycles as the rates only apply to items acquired before 1 July 2001 with an effective life of less than ten years):
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 |