Define: Wasting Asset

UK Accounting Glossary

Definition: Wasting Asset


Quick Summary of Wasting Asset


A wasting asset is a property or security that has a limited life and loses value over its life.



What is the dictionary definition of Wasting Asset?

Dictionary Definition


A wasting asset is an asset that has a finite lifespan; for example, a lease loses value throughout it’s life and become worthless once the lease terminates.

This also applies to such assets as plant and/or machinery, which wear out during their lifetime and therefore lose their value over time.


Full Definition of Wasting Asset




Examples of Wasting Asset in a sentence


Due to the finite term of the license it is now classified as a wasting asset.
The sale of the painting was exempt from capital gains tax; as a result of it being deemed a “wasting asset”.



Cite Term


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Wasting Asset. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. July 17, 2019 https://payrollheaven.com/define/wasting-asset/.
Chicago Manual of Style (CMS):
Wasting Asset. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/wasting-asset/ (accessed: July 17, 2019).
American Psychological Association (APA):
Wasting Asset. PayrollHeaven.com. Retrieved July 17, 2019, from PayrollHeaven.com website: https://payrollheaven.com/define/wasting-asset/

Definition Sources


Definitions for Wasting Asset are sourced/syndicated from:

  • Oxford Dictionary Of Economics
  • BusinessDictionary.com
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 29th January 2019.