{"Term":"Depreciation","Definition":"\u003cp\u003eAssets lose value over time as they get older. This loss of value is called depreciation. \u003c/p\u003e\n\u003cp\u003eBusinesses claim depreciation loss as a deduction expense each tax year.\u0026nbsp;\u003c/p\u003e\n\u003cp\u003eYou can claim a deduction for depreciation loss on capital assets. That\u0027s those you own, lease, or buy under a hire purchase agreement and use, or intend to use, in your business.\u0026nbsp;\u003c/p\u003e\n\u003cdiv\u003e\u0026nbsp;\u003c/div\u003e","TeReoTerm":"","TeReoDefinition":""}