A taxpayer purchases a building as an investment to derive residential rental income The taxpayer settled the building on 1 December 2020 for a total cost of $900,000 with land value of $1 5m The previous rental tenants continued renting under the previous lease arrangements At the time of purchase the previous owner handed over a schedule of depreciation where construction costs totaled $300,000 when the property was built in 2006, that had a land value at the time of $550,000 How much is the capital works deduction that the taxpayer can claim in 2021 income year Select one a $4,356 b $13,068 c $12,343 d $7,500 A taxpayer purchases a building as an investment to derive residential rental income The taxpayer settled the building on 1 December 2020 for a total cost of $900,000 with land value of $1 5m The previous rental tenants continued renting under the previous lease arrangements At the time of purchase the previous owner handed over a schedule of depreciation where construction costs totaled $300,000 when the property was built in 2006, that had a land value at the time of $550,000 How much is the capital works deduction that the taxpayer can claim in 2021 income year Select one O a $4,356 O b $13,068 OC $12,343 pd $7,500

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Posted on Aug 01, 2024

A taxpayer purchases a building as an investment to derive residential rental income. The taxpayer settled the building on 1 December 2020 for a total

At the time of purchase the previous owner handed over a schedule of depreciation where construction costs totaled $300,000 when the property was built in 2006, that had a land value at the time of $550,000.

How much is the capital works deduction that the taxpayer can claim in 2021 income year?

Select one:

$4,356

$13,068

$12,343

$7,500

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A taxpayer purchases a building as an investment to derive residential rental income. The taxpayer settled the building on 1 December 2020 for a total cost of $900,000 with land value of $1.5m. The previous rental tenants continued renting under the previous lease arrangements. At the time of purchase the previous owner handed over a schedule of depreciation where construction costs totaled $300,000 when the property was built in 2006, that had a land value at the time of $550,000. How much is the capital works deduction that the taxpayer can claim in 2021 income year? Select one: O a. $4,356 O b. $13,068 OC. $12,343 pd. $7,500