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Annual wear and tear allowances on fixed assets
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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

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