IAS 12 Non-depreciable/depreciable assets

Date recorded:


The IFRIC considered providing guidance on whether the whole of an investment property held under a finance lease consisting of land and buildings that is accounted for using the fair value model in IAS 40 Investment Property is a “non-depreciable asset” under SIC-21 Income Taxes – Recovery of Revalued Non-Depreciable Assets paragraph 4 (with the consequence that any deferred tax asset or liability on it should be measured at the tax rate applicable on a sale of the property).


Decision not to add

August 2002



The IFRIC agreed not to require publication of an Interpretation on this issue because SIC–21 Income Taxes – Recovery of Revalued Non-Depreciable Assets, IAS 16 Property, Plant and Equipment, and IAS 12 Income Taxes provide adequate guidance.


IFRIC reference: IAS 12

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