Question 10.7

Frank Capone conducts business as a toy distributor. He is not a SBE taxpayer. Frank employs sales and delivery staff who use several business-related vehicles as follows:

Adj value as Date Business Vehicle 30/06/2019 Depreciation Method Acquired Cost ($) use ($) UBSSIN 1-Jul-13 27,000 10,825 85% Prime Cost Ford Van 1-Jul-17 40,200 28,200 100% Dimishing Value Toyota 1-Jul-18 30,000 22,500 64% Dimishing Value Hino Truck* 1-Jul-19 127,500 N/A 100% Dimishing Value Audi 1-Jul-18 59,000 44,842 53% Prime Cost Volvo 1-Jul-19 74,580 N/A 78% Dimishing Value