Annual wear and tear allowances on fixed assets
Annual wear and tear allowances on fixed assets
The following allowances which are given as a percentage on the cost of acquisition are deducted from the chargeable income:
Fixed assets |
|
Plant and machinery | % |
Plant and machinery | 10 |
Furniture and fittings | 10 |
Industrial carpets | 10 |
Boreholes | 10 |
Machinery and tools used in an agricultural business | 15 |
Buildings | % |
Commercial buildings | 3 |
Industrial, agricultural and hotel buildings | 4 |
Flats | 3 |
Metallic greenhouse structures | 10 |
Wooden greenhouse structures | 33 ⅓ |
Vehicles and Means of Transportation | % |
Commercial motor vehicles | 20 |
Motor cycles | 20 |
Excavators, tractors, bulldozers, self-propelled loaders and drums for petrol companies | 25 |
Armoured Motor Vehicles (e.g. used by Security Services) | 20 |
Specialised Machinery for the laying of Railroads (e.g. Locomotive engines, Ballast wagons, Container wagons and Container Sleeper Wagons) | 20 |
New Airplanes | 8 |
New Helicopters | 8 |
Sailing vessels | 4 ½ |
Motor Yachts | 6 |
Steamers, tugs and fishing boats | 6 |
Shipmotor launches | 12 ½ |
New cargo vessels | 8 |
New passenger vessels | 6 |
Used cargo/passenger vessels | Over their useful lives |
Other | % |
Televisions and videos | 10 |
Computer hardware and operating systems | 20 |
Application software | 33 ⅓ |
Expenditure on application software less than €1.709, is written off in the year of acquisition |
|
Wind Power Generators | 10 |
Photovoltaic Systems | 10 |
Tools in general | 33 ⅓ |
Videotapes property of video clubs | 50 |