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Answer to Q - 1 0 . 5 ( Decline in value - motor vehicles ) Please write your workings / explanations and answers in

Answer to Q-10.5(Decline in value - motor vehicles)
Please write your workings/explanations and answers in Blue cells
Frank Capone
Additional Workings (if any) QUESTION 10.5(Decline in value - motor vehicles)
Darryn Remmert conducts business as a real estate agent. He is not a SBE taxpayer. Darryn employs several sales staff and property managers, and consequently makes use of a number of motor vehicles through his business. The following data relates to these vehicles:
\table[[Vehicle,\table[[Date],[Acquired]],\table[[Cost],[($)]],\table[[Adj. Value],[at 30/6/21],[($)]],\table[[Business],[Use]],\table[[Depreciation],[Method]]],[Ford,1 July 2018,35,000,21,875,100%,Prime Cost],[Holden,1 Apr 2019,28,500,18,815,85%,Diminishing Value],[Honda,1 Oct 2021,41,800,N/A,74%,Diminishing Value],[Mercedes,1 July 2017,84,800,28,505,83%,Prime Cost],[BMW,1 May 2019,56,300,37,635,72%,Diminishing Value],[Lexus,1 July 2021,71,500,N/A,68%,Diminishing Value]]
Each vehicle is to be depreciated using the Commissioner's estimated life of 8 years.
Calculate the deduction available to Darryn for the decline in value of these vehicles in respect of the 2021/22 tax year.prepare tax documentation for individuals edition 18 solution to question 10.5
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