Writing-Down Allowance

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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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Cars with emissions more than 110 g/km will be subject to writing-down allowances of 20 per cent and those with 160g/km or more, ten per cent.