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Paragraph 25 General rules

Original text. Later amendments are not shown.

In the case of any fixed asset which has a limited useful economic life, the amount of:

(a)

its cost; or

(b)

where it is estimated that any such asset will have a residual value at the end of the period of its useful economic life, its cost less that estimated residual value;

  • shall be reduced by provisions for depreciation calculated to write off that amount systematically over the period of the asset’s useful economic life.