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+--- Thread: depreciation on fix assets (/thread-depreciation-on-fix-assets)
depreciation on fix assets - [email protected] - 08-11-2010
for school business
what is the life of building,furniture & computers?
and percentage
and which method i should adopt for depreciation
- Information Consultant - 08-11-2010
For ur interanal or management accounting u can use any method depend on the company policy normally straight line method use
for tax accounting reducing balance method
- LapTop - 08-11-2010
Agreed with Consultant,
- [email protected] - 08-12-2010
you guys didn't tell me depreciation <b>% rate</b>.
- Information Consultant - 08-12-2010
Tax depriciation Rate on written down value
Plant & Machinery 10 %
Furniture & Fixture 10 %
Computer hardware includining printer 30 %
Professional books 20 %
Building 5 %
Motor vehicle 20 %
For more info see third schedule part 1 of incometax ordinance
wait for the laptop advice on above mentioned rates before taking any final decision
For internal accounting purpose u can charge rate as per management policy