What is the depreciation period for motorcycles?
2 Answers
National regulations stipulate that the service life of two-wheeled motorcycles is 10 years, with the following relevant explanations: Introduction: The service life can be extended by 3 years, but during the extended 3-year period, a semi-annual inspection is required. Only after passing the inspection can the extension be granted. After reaching 13 years, mandatory scrapping will be implemented. Additional Notes: Owners of two-wheeled motorcycles and lightweight two-wheeled motorcycles that have been registered for 10 years must complete the vehicle deregistration process at the local public security vehicle management department before the scrapping deadline. Additionally, if motorcycle owners fail to complete the vehicle deregistration on time, the traffic management department of the public security authority will legally cancel their vehicle registration certificate, license plate, and driving license.
I usually pay attention to tax knowledge. The depreciation period of motorcycles in accounting is generally set at about 5 years, which is based on the regulations of the tax authorities. For example, ordinary motorcycles used as means of transportation are calculated in this way. Depreciation is the process of asset value decreasing over time. When calculating, you can use the straight-line method or the accelerated method. Choosing a good method can help companies save taxes. Note that if well maintained, the actual service life may be longer, but the accounts must still follow the rules. The depreciation period directly affects the income statement. If you are doing business accounting, you need to carefully calculate this expense to avoid tax issues. In short, following the rules plus daily maintenance can make your assets more valuable.
