wasting asset


Also found in: Financial.

wasting asset

n.
An asset, such as an oil well or an options contract, that declines in value over time.

wasting asset

n
(Accounting & Book-keeping) an unreplaceable business asset of limited life, such as a coal mine or an oil well
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References in periodicals archive ?
Dr Kasolo said copper is a wasting asset, and so, ZCCM-IH requires to diversify its business practices to maintain.
Antibiotics have been a wasting asset since the first was developed in 1911.
Fortunately clocks carry an exemption from capital gains tax as they qualify as "machinery", and are therefore treated as a wasting asset with an expected working life of 50 years or less.
European soft power is a wasting asset in a world in which other regions and powers are increasingly self-confident and less willing to base their policies on relations with the West.
The FTT ruled against them, agreeing with HMRC that the painting did not fall within the definition of a wasting asset and so any gain made on its sale was subject to capital gains tax in the normal way.
Even worse for Democrats, their current partisan advantage is a wasting asset.
It has become empty and neglected and at the moment it is a wasting asset to the city.
Two years later, there is no tax revenue coming into the city from this wasting asset, the $310 million that a private sector developer was going to invest in the albatross of a building has been spent elsewhere and, most importantly, none of the estimated 2,200 jobs were created.
As never before, they have now become a wasting asset.
Angela Beech, head of personal tax at accountants Blick Rothenberg, says: "Cars are regarded as a wasting asset, like racehorses, so transactions in them are certainly free of tax.
He insisted that the Algerians "have a wasting asset in the Polisario but seem still unable to free themselves of causes past.