31 Which of the following is correct with respect to the private health insurance offset? a. No offset is available where income is greater than $90,000 for singles and $180,000 for families. Ob. The rebate rate is 30% of the amount of private health insurance premiums. Ocit is a non-refundable offset. Od. It was adopted to subsidise taxpayers paying private health insurance premiums. 4 QUESTION 32 Andrew is an employee tax accountant at a Big 4 accounting firm. He purchased an iPhone on 1 March 2021 for $1,000. He used the phone 30% for work purposes. However, he was promoted to manager in April and as a result, received a new phone from his employer. He sold the iPhone for $500 on 1 June 2021 to a reputable second-hand dealer. Assume that the iPhone has an effective life of 2 years and Andrew uses the prime cost method for calculating depreciation deductions. What is the balancing adjustment amount in relation to sale of the iPhone to the second-hand dealer? Oa. He has an assessable income amount of $500. Ob. He has a deduction of $112. OC. He has a deduction of $126. O d. He has a deduction of $374