Seth purchased some office furniture for sole use in her business and it has an effective life of 15 years. She made a deliberate choice to depreciate this furniture using the diminishing value method since it provides her with a larger tax deduction and lower taxable income in the early years of the useful life of furniture compared the prime cost method.

Required:

Has Seth obtained a tax benefit? Explain your reasoning in accordance with s 177C (1) and (2) ITAA36, showing whether or not its requirements for a tax benefit have been satisfied.