Question
alculate the 2020 tax depreciation in each of these situations, providing reason and/or workings(s): a) Yendi Zoot purchased a 10-year old residential rental property in
alculate the 2020 tax depreciation in each of these situations, providing reason and/or workings(s): a) Yendi Zoot purchased a 10-year old residential rental property in the year. Included in the purchase price were a washing machine and drier valued at $1,200 (2 marks)
b) Yendi Zoot bought new window blinds costing $5,500 including installation of $500, for a different rental property. Yendi uses the Pooling rules, and the Pool balance at the end of 2019 was $10,000 and all Pool assets have an effective life of 4 years. (3 marks)
c) Yendi Zoot bought a used Triton ute for $20,000 to use in his small business. (2 marks)
4 Income tax law Australian, 2019-2020
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started