Wear and tear allowances

The following allowances which are given as a percentage on the cost of acquisition are deducted from the chargeable income:

Plant and machinery  %Buildings%
Plant and machinery10Commercial buildings3
Furniture and fittings10Flats3
Industrial carpets10Industrial, hotel and agricultural buildings4
Boreholes10Metallic greenhouse structures10
Machinery and tools used in an agricultural business15Wooden greenhouse structures331/3
Vehicles and means of transportation
Commercial motor vehicles20New Airplanes8
Motor cycles20New Helicopters8
Excavators, tractors, bulldozers, self-propelled loaders and drums for petrol companies25Sailing vessels4,5
Armoured Motor Vehicles20Motor Yachts6
Specialized machinery for the laying of railroads20Used cargo/passenger vesselsOver their useful lives
New passenger vessels   6Ship motor launches12,5
Steamers, tugs and fishing boats     6New cargo vessels8
Televisions and videos10Photovoltaic Systems10
Computer hardware and operating systems20Wind Power Generators10
Application software 331/3Expenditure on application software less than €1.709, is written off in the year of acquisition
Tools in general 331/3


Please note that the information provided here is for general guidance only and does not constitute professional tax advice. Tax laws and interpretations are subject to change, and individual circumstances can significantly affect tax obligations and benefits.

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