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Jordan is a boat builder and owns his own business, building exclusive yachts. He is building himself a yacht and took some building materials

 

Jordan is a boat builder and owns his own business, building exclusive yachts. He is building himself a yacht and took some building materials costing $5,000 for his own use. The materials could have been sold for $6,250. State what amount, if any, is assessable in respect of the above. (5 marks)

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