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English definition of “recovery period”

recovery period

noun [S]    
ECONOMICS the time during which an economy improves after a difficult period : The recovery period after any major economic collapse is often accompanied by a rise in nationalism .
ACCOUNTING, FINANCE, TAX the number of years allowed for you to get back the money that was spent on an asset by paying less tax : Taxpayers must wait until the year after the end of the recovery period to fully depreciate the property .a 3-year/5-year/10-year, etc. recovery period A similar 15-year recovery period is allowed for improvements to restaurant property placed in service after October 22, 2004.the recovery period for sth The recovery period for nonresidential real estate placed in service after May 12, 1993, has been increased to 39 years .
(Definition of recovery period noun from the Cambridge Business English Dictionary © Cambridge University Press)
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