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  • Jointly held depreciating assets



    This information may not apply to the current year. Check the content carefully to ensure it is applicable to your circumstances.

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    If a depreciating asset is held by more than one person, each holder works out their deduction for the decline in value of the asset based on the cost of their interest in the asset and not the cost of the asset itself.

    Last modified: 08 Apr 2020QC 27597