About this Guide

You are required to claim depreciation on an asset and then account for it when you dispose of that asset. We recommend that you consult a tax agent when considering claiming for depreciation, however, it is still your responsibility to be aware of your tax obligations. This guide explains how businesses claim depreciation on their assets.

When to use this guide

Learn here about how depreciation works and the methods available for calculating depreciation, general depreciation rates, assets, adjustments and disposals. The rates to calculate depreciation for assests acquired since 1996 are available in our General depreciation rates IR265.

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