Mr. Chung carries on a business in Hong Kong. During the year ended 31 March 2020,...

 

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Mr. Chung carries on a business in Hong Kong. During the year ended 31 March 2020, he purchased the following assets (AA:30%) for his business use: Motor car: $160,000 Computer: $50,000 There is no balance brought forward in the 30% pool from the previous year of assessment. The total amount of deduction available to Mr. Wong in respect of the above two assets for the year of assessment 2019/20 are:...? Mr. Chung carries on a business in Hong Kong. During the year ended 31 March 2020, he purchased the following assets (AA:30%) for his business use: Motor car: $160,000 Computer: $50,000 There is no balance brought forward in the 30% pool from the previous year of assessment. The total amount of deduction available to Mr. Wong in respect of the above two assets for the year of assessment 2019/20 are:...?

Answer rating: 100% (QA)

Calculating Capital Allowances for Mr Chungs Assets 1 Capital Allowances Mr Chung is eligible for ca... View the full answer