Question 10.9 Scooby Montana is employed as a salesperson. Scooby uses a low value pool which, at
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Question 10.9
Scooby Montana is employed as a salesperson. Scooby uses a low value pool which, at 30 June 2019, had a balance $1,850.
On 1 September 2019, Scooby bought a mobile phone for $580 which he used entirely for work. The phone has an effective life of 3 years.
On 31 January 2020, Scooby purchased a photocopier for $800. He estimates that the copier is used 80% for work and has a useful life of 6 years.
Calculate the balance of Scooby's low value pool as at 30 June 2020.
Calculate the decline in value deduction available for the 2019/20 tax year.
Related Book For
Taxation Of Individuals And Business Entities 2015
ISBN: 9780077862367
6th Edition
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
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