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of <h1>Claim 20% Initial Depreciation on New Machinery; Conditions Apply for Usage and Installation Location.</h1> A person engaged in manufacturing or production can claim an initial depreciation on new machinery and plant assets, provided these assets are unused prior to installation, not installed in office or residential spaces, and not office appliances. The initial depreciation is 20% of the asset's actual cost and applies in the financial year the asset is installed and used. If the asset is acquired and used for less than 180 days within the financial year, the deduction is limited to 50% of the calculated amount. The full asset cost must not be deductible in any single financial year.
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