Answer to Q$-10\mathrm{.}7($Low value pool, asset with part private use$)$

Note$-$ Please show all workings where necessary and you may use additional space below

Please write your workings$/$explanations and answers in Blue cells QUESTION $10\mathrm{.}7$

$($Low value pool, asset with part private use$)$

Scooby Montana is employed as a salesperson. Scooby uses a low value

pool which, at $30$ June $2021,$ had a balance of $$1,850.$

On $1$ September $2021,$ Scooby bought a mobile phone for $$580$ which he

used entirely for work. The phone has an effective life of $3$ years.

On $31$ January $2022,$ Scooby purchased a photocopier for $$800.$ He

estimates that the copier is used $80\%$ for work and has a useful life of $6$

years.

Calculate the balance of Scooby's low value pool as at $30$ June $2022.$

Calculate the decline in value deduction available for the $2021/22$ tax

year.prepare tax documentation for individuals edition $18$ solution to question $10\mathrm{.}7$