Question
Question During the 2019/20 income year, George, a flight engineer, spent $20,000 on flying lessons from Air Skool Pty Ltd. George believes that learning how
Question During the 2019/20 income year, George, a flight engineer, spent $20,000 on flying lessons from Air Skool Pty Ltd. George believes that learning how to fly a plane would improve his engineering skills and increase his chances for promotion as a flight engineer. On 2 July 2019, George also paid $10,000 for a new computer that would allow him to run flight simulation software.
Answer the following questions relating to the 2020 income year. You must refer to relevant law and show calculations.
Assume George uses the computer 100% for study purpose, can George claim the computer as a deduction? If yes, what is the maximum amount he could claim this year? (Assume computers have an effective life of 5 years).
Can you please provide me the answer with in 15 minutes?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started