Writing-Down Allowance

Writing-Down Allowance

A reduction in the taxable income of a corporation due to assets acquired in a year. To calculate the writing-down allowance, one adds a percentage of the value of the assets purchased in the current year to the depreciation on assets purchased in previous years. The writing-down allowance reduces a company's corporate tax liability.
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The Civic triumphed in the category for cash-rich SME firms looking to maximise their tax position with cars that qualify for the 100% writing-down allowance tax break and emit no more than 95g/km CO2.
The balance goes into the general pool and qualifies for 18 per cent writing-down allowance.
From April, 2009, cars with CO2 emissions above 160g/km will attract a 10% writing-down allowance for businesses, whereas expenditure on cars with CO2 emissions of 160g/km or below, which includes the Insignia, Astra, Corsa and Agila ecoFLEX models, will attract the full 20%.
What has yet to be established is the interpretation of the reference to "certain fixtures integral to a building" and the 10% writing-down allowance applicable to these.