Depreciation Calculator
The Depreciation Calculator works out how much an asset — a vehicle, machine, computer or building — depreciates each year and its book value at the end of each year.
Where to find it: Other Tools ▾ → Depreciation Calculator
1. The asset
Enter the Asset name, its Cost, the Date put to use and the Scrap value at the end (as a % of cost or in rupees).
2. How to depreciate
| Income Tax Act — block of assets (WDV) | Pick the block (for example building, furniture, plant and machinery, computers) and its written-down-value rate is filled in. |
| Companies Act — Schedule II (useful life) | Pick the type of asset and its useful life is filled in. |
| My own rate or life | Type your own Rate a year or Useful life. |
Choose the Method: Written down value, Straight line, Double declining, Sum of years’ digits, or Units of production (enter the total units the asset will produce and the units a year).
Used under 180 days in year one: leave it on Work it out from the date, or force half or full depreciation for the first year. Under the Income Tax Act, an asset used for less than 180 days in its first year gets half the depreciation.
3. The result
You see the first year’s depreciation, the cost, scrap value, depreciation so far, the book value at the end and the year the asset is fully written off, followed by a Year by year table. Set Years to show to see more years. Use Download schedule, Copy summary, Print or Reset.
Depreciation for tax and for your company accounts can differ. Confirm rates and the method with your accountant.