What is Depreciation rate for plant and machinery?

The depreciation rate for plant and machinery typically varies depending on the accounting policies of the organization and the applicable tax laws in the jurisdiction. In many countries, the straight-line method is commonly used, with rates often ranging from 10% to 20% per year, depending on the expected useful life of the asset. Additionally, some businesses may opt for accelerated depreciation methods, which allow for higher deductions in the earlier years of an asset's life. It's essential to refer to specific regulations and guidelines to determine the appropriate rate for a given context.