Use the residential sales property data below: Sales Price $880,000 . . Sales...
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Use the residential sales property data below: • Sales Price $880,000 . ● ● . Sales Date 23 September 2021 Land Area 730m² Dwelling floor area 246m² (including garage) Dwelling includes a 6m x 6m internal access garage Dwelling completed in September 2013 Vacant land value is $420/m² Added value of garage $1,200/m² Dwelling surrounds, paths driveway, landscaping etc assessed at $40,000 Current replacement cost for the dwelling is $2,500/m² (excl garage) Chattels are assessed at $24,000 Calculate both of the following: a. a net rate residual for dwelling only-ię. excluding garaging ($ per square metre rate); and b. a depreciation/obsolescence amount for the dwelling only expressed as a simple annual percentage (not compounding). Use the residential sales property data below: • Sales Price $880,000 . ● ● . Sales Date 23 September 2021 Land Area 730m² Dwelling floor area 246m² (including garage) Dwelling includes a 6m x 6m internal access garage Dwelling completed in September 2013 Vacant land value is $420/m² Added value of garage $1,200/m² Dwelling surrounds, paths driveway, landscaping etc assessed at $40,000 Current replacement cost for the dwelling is $2,500/m² (excl garage) Chattels are assessed at $24,000 Calculate both of the following: a. a net rate residual for dwelling only-ię. excluding garaging ($ per square metre rate); and b. a depreciation/obsolescence amount for the dwelling only expressed as a simple annual percentage (not compounding).
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Step 1 Subtract the added value of the garage and the assessed value of the chattels from the sales ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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