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Can I depreciate a second hand vehicle?

Posted 9 February 2015 under Tax Q&A

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Vehicle depreciation and year model clarity. Can I buy a second hand vehicle that is three years old and still depreciate the vehicle over five years?

This entry was posted in Tax Q&A and tagged Salary / IRP5, Depreciation / Wear and Tear, Travel Allowance. Bookmark the permalink.

TaxTim says:
10 February 2015 at 20:16

Yes, but the value used will be the one you paid, not the cost of the vehicle new.

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