Depreciation rates for asset classes set out, with special proration for short use assets and full write off for small balances.

A schedule prescribes depreciation allowances as percentages of the written down value for defined blocks of assets used in business, classifying assets into categories and sub classes with specified rates. It restricts depreciation where cost has already been deducted, halves the allowance for assets used less than the short prescribed period in the year, permits full write off for small adjusted balances in certain classes, applies building renovation and extension work percentages by reference to building sub classes, and supplies detailed technical definitions linking specified equipment to prescribed treatment.

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