Taxes Consolidation Act 1997 section 285B

Acceleration of wear and tear allowances for childcare and fitness centre equipment

Section 285B provides a 100% accelerated wear and tear allowance for certain equipment used in employer-provided childcare and fitness facilities.

• Applies to capital expenditure on machinery or plant used in qualifying childcare or fitness premises for employees.
• Qualifying premises are buildings used solely for employee childcare or fitness facilities and not open to the general public.
• Replaces the standard 12.5% wear and tear allowance with a 100% allowance.
• Applies to expenditure incurred on or after 1 January 2019.

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