Sarah owned a photocopier that was used 100% of the time for work purposes. The photocopier was

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Sarah owned a photocopier that was used 100% of the time for work purposes.

The photocopier was traded in for $7,500 on 30 June 2018. The item cost $17,400 when it was bought on 1 July 2017. The effective life was 4 years. Sarah used the diminishing value method to calculate the decline in value.

What is the assessable or deductible amount on the sale as the balancing charge?

Related Book For answer-question

South Western Federal Taxation 2017 Comprehensive

ISBN: 9781305874169

40th Edition

Authors: William H. Hoffman, David M. Maloney, William A. Raabe, James C. Young

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Posted Date: Feb 15, 2024 01:26 PM

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Sarah owned a photocopier that was used 100% of the time for work purposes. The photocopier was

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South Western Federal Taxation 2017 Comprehensive

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