wasting asset

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Related to Wasting Assets: Contingent Assets

Wasting asset

An asset that has a limited life and thus decreases in value (depreciates) over time. Also applies to consumed assets, such as oil or gas, and termed "depletion."

Wasting Asset

An asset, especially a derivative, that loses value over time. A primary example is an out of the money option, which declines in value close to the expiry date because it becomes less likely that the option will become in the money. It can also apply to assets that are consumed, such as oil or food products. In this situation, the asset reaches its highest value at its sale, and then rapidly depreciates. In accounting, a wasting asset is anything subject to depreciation. See also: Absolute physical life.

wasting asset

An asset that tends to decline in value over time as its expected life is used up. A factory machine or an automobile is a wasting asset. Some individuals also consider options or warrants wasting assets because they have a limited life after which they are valueless. Also called shrinking asset.

wasting asset

FIXED ASSETS such as mines, quarries and oil wells, which are used up during their working lives. It is especially important to make adequate provision for DEPRECIATION of such assets.

wasting asset

any NATURAL RESOURCE, such as coal and oil, that has a finite but indeterminate life span depending upon the rate of depletion. See ASSET.

wasting asset

An asset that is depleted or used up over time,such as oil and gas,minerals under the earth,or timberland.Wasting assets may give rise to income tax depletion deductions,similar to the better-known depreciation deductions.

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The FTT ruled against them, agreeing with HMRC that the painting did not fall within the definition of a wasting asset and so any gain made on its sale was subject to capital gains tax in the normal way.
In other words, anything which is either 'plant' or 'machinery' is automatically a wasting asset for the purposes of the Act.
Old masters and wasting assets: Reynolds' Portrait of Omai
A valuation may be required to determine a proper value for the stock of the company and the hypothetical allocation of purchase price to the various wasting assets under the seven asset classes, using the methodology of section 338.
In particular, the acknowledgement by the IRS that income from a wasting asset can generate RBIG represents a significant planning opportunity for companies with significant good-will and other appreciated assets that have undergone a change in ownership.
Post-ownership change treatment of built-in gains and losses
The Service also noted that Congress nowhere indicated in the legislative history that the income from a wasting asset should mirror the treatment of the deductions enumerated in Sec.
Wasting assets do not generate BIG under Sec. 382. (Gains & Losses)
One suspects even Yogi Berra would realize wasting assets and loss duplication were the most difficult and contentious issues discussed in 1990, and here we go, 12 years later, starting all over, again.
Some will argue that wasting assets must be traced, otherwise it unfairly favors companies with intangible assets.
Rite Aid: potentially historic
the return of principal for bonds and mortgage loans) as well as for wasting assets.
Income capitalization problems
As a result, a real estate company's assets are reported as if they are wasting assets.
Current value reporting for real estate: an industry perspective
Navy plenty of usable Falklands-style power for limited battles using conventional weapons without wasting assets on big, strategic nuclear scenarios against the Soviets in which naval air power no longer makes much sense.
The Navy we need and the one we got
Since HMRC classifies old cars as wasting assets, the PS16.
Classic tax dodgems; MOTORING
Everybody wins because this policy targets wasting assets,making them useful again for those who need them most.
Empty houses may be used for homeless; 13

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