Low Cost Assets - Part Private Use
Savannah Torte is employed as a college lecturer. She occasionally purchases items that she uses
in the course of her employment that are subject to depreciation.
As at 30 June 2023, she had the following assets:
Asset	Cost($)	Adjustable Value at 30/06/2023($)	Effective Life(Years)	Depreciation Method
Filing cabinet	3,900	1,100	15	Diminishing Value
Office Desk	1,400	850	12	Diminishing Value
Savannah has kept records indicating that she uses the filing cabinet 80% for work and the office desk 70% for work.
During the 2023/24 income year, Savannah purchased the following assets related to her work:
Asset	Cost($)	Date of Purchase	Effective Life(Years)
Overhead Projector	1,800	1/01/2024	8
Paper Shredder	200	1/03/2024	3
Computer Monitor	720	1/05/2024	4
>Savannah has previously used a low value pool. At present, it contains only a printer
which she uses 80% for work and has a balance of $400.
>Savannah has indicated that her work usage of these assets is 90% for the overhead
projector, 50% for the paper shredder, and 80% for the computer monitor.
a) Calculate the balance of Savannah's low value pool as at 30 June 2024.
b) Calculate the deduction for decline in value available for the 2023/24 income year.
(Private use of the printer has already been adjusted when placed in the pool-no further adjustment necessary)