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Can I claim depreciation on my assets?

Yes. Afirmo's asset register tracks each business asset, with purchase date, cost, and auto-calculated depreciation at IRD's published rates.

To add an asset:

  1. Go to Accounting > Assets
  2. Click Add Asset
  3. Enter description, purchase date, cost, and asset category
  4. Save

Depreciation is then applied each year automatically and feeds into your Income Tax return calculation.

If you sell the asset, enter the sale price and the system calculates any GST wash-up and gain or loss on disposal.