Question
Which of the following is correct regarding the claiming of input tax credits (in the year ended 30 June 2022) in respect to the purchase
Which of the following is correct regarding the claiming of input tax credits (in the year ended 30 June 2022) in respect to the purchase of a car for business use?
Group of answer choices
a.If a car is purchased for $120,000, the maximum input tax credit that can be claimed is $5,521
b. If a car is purchased for $120,000, the maximum input tax credit that can be claimed is $10,909
c.If a car is purchased for $55,000 and is used 50% for business purposes, the maximum input tax credit that can be claimed is $5,000
d. If a car is purchased for $22,000 for private purposes the maximum input tax credit that can be claimed is $2,000
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