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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 QDecline in value motor vehicles
Please write your workingsexplanations and answers in Blue cells
Frank Capone
Additional Workings if any QUESTION 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:
tableVehicletableDateAcquiredtableCost$tableAdj Valueat $tableBusinessUsetableDepreciationMethodFord July Prime CostHolden Apr Diminishing ValueHonda Oct NADiminishing ValueMercedes July Prime CostBMW May Diminishing ValueLexus July NADiminishing Value
Each vehicle is to be depreciated using the Commissioner's estimated life of years.
Calculate the deduction available to Darryn for the decline in value of these vehicles in respect of the tax year.prepare tax documentation for individuals edition solution to question
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