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Jason Day commenced a business on 1 April 2018 and would like to claim maximum depreciation for the assets, which he purchased for his new
Jason Day commenced a business on 1 April 2018 and would like to claim maximum depreciation for the assets, which he purchased for his new business shown below. Asset Cost ($) Oven Trays Van Tins Slicing Machine Date of acquisition 3 April 2018 10 May 2018 19 May 2018 11 November 2018 8 January 2019 20.000 1.250 45,000 700 8,000 Inland Revenue's depreciation rates Item DV Rate depreciation Oven Trays Van Tins Slicing Machine depreciation SL rate (%) 10 40 20 40 13 (%) 7 30 13 30 8.5 Required: Calculate the amount of depreciation loss for the year ended 31 March 2019 for Jason's business assuming the pool method is used for all assets costing $5,000 and under
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