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Taxation problem: Deductions for costs retaining to new computer On 12 February 2016, Greg, an employee, purchases a new computer that he uses 40% for
Taxation problem: Deductions for costs retaining to new computer
On 12 February 2016, Greg, an employee, purchases a new computer that he uses 40% for work purposes. The invoice shows the following amounts (inclusive of GST).
Desktop computer $5,000
Inkjet printer $250
Computer software $1500
Delivery fee $100
Maintenance contract (12 months)$400
$7250
Greg prefers to calculate decline in value using the diminishing value method
What deductions can Greg claim for the 2015/16 income year?
Deductions for costs retaining to new computer On 12 February 2016, Greg, an employee, purchases a new computer that he uses 40% for work purposes. The invoice shows the following amounts (inclusive of GST). Desktop computer $5,000 Inkjet printer $250 Computer software $1500 Delivery fee $100 Maintenance contract (12 months) $7250 $400 Greg prefers to calculate decline in value using the diminishing value method What deductions can Greg claim for the 2015/16 income year? Show all workings Show sections references for all deductableStep by Step Solution
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