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 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