How the depreciable life of fixed assets is divided up

From January 1, 2008, the new Income Tax Act has redefined the depreciable life of fixed assets:

1. 20 years for houses and buildings.

2. 10 years for airplanes, trains, ships, machines, machinery and other production equipment.

3. Appliances, tools, furniture, etc. related to production and business activities for 5 years.

4. 4 years for means of transportation other than airplanes, trains and ships.

5. 3 years for electronic equipment.