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Post Info TOPIC: Accounting for depreciation of van

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Accounting for depreciation of van


A sole trader purchased a van Feb 21, I understand the full cost of the van (5000) will be claimed as AIA on the tax return however i'm unsure as to what rate/method to use to account for the depreciation? Also does the depreciation figure then get apportioned for the months owned throughout the financial year?




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Up to the business and the depreciation policy they wish to adopt, there is no correct/incorrect way to do it. If I am asked by my clients to advise, I usually depreciate a vehicle over 4 years, starting in the year of purchase but nothing in the year of disposal.



These are only my opinions of how I see things and therefore should not be taken as advice


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start with basics

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