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An extract of the Asset Register of Ace Pty Ltd (Ace) for the 2018 - 2019 Income year is shown as follows: Asset Method Cost

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An extract of the Asset Register of Ace Pty Ltd ("Ace") for the 2018 - 2019 Income year is shown as follows: Asset Method Cost Opening Adjustable Value 1,200 1,200 Effective Decline in closing Life Value for Adjustable This Period Value 3 years 400 800 Printer Diminishing Value Prime Cost Prime Cost Desks 3,000 2,400 Appliances 2,600 1,040 10 years 5 years 300 520 2,100 520 All depreciable assets are 100% for business use and Ace uses a low-value pool for all eligible assets. The closing value of the low-value pool at 30 June 2019 was $8,000. Ace purchased a camera on 20 Jan 2020 for $840. Advise Ace of the Income Tax consequences arising out of the above information for the 2019 - 2020 Income year assuming Ace is not a small business entity. An extract of the Asset Register of Ace Pty Ltd ("Ace") for the 2018 - 2019 Income year is shown as follows: Asset Method Cost Opening Adjustable Value 1,200 1,200 Effective Decline in closing Life Value for Adjustable This Period Value 3 years 400 800 Printer Diminishing Value Prime Cost Prime Cost Desks 3,000 2,400 Appliances 2,600 1,040 10 years 5 years 300 520 2,100 520 All depreciable assets are 100% for business use and Ace uses a low-value pool for all eligible assets. The closing value of the low-value pool at 30 June 2019 was $8,000. Ace purchased a camera on 20 Jan 2020 for $840. Advise Ace of the Income Tax consequences arising out of the above information for the 2019 - 2020 Income year assuming Ace is not a small business entity

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