depreciation on fix assets

[[email protected]]

for school business

what is the life of building,furniture & computers?
and percentage
and which method i should adopt for depreciation

[Information Consultant]

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]

Agreed with Consultant,

[[email protected]]

you guys didn't tell me depreciation <b>% rate</b>.

[Information Consultant]

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