Question: Chapter 10: Decline in Value and Capital Allowances 429 QUESTION 10.? (Low value pool. asset with part private use) Scooby Montana is employed as a

Chapter 10: Decline in Value and Capital Allowances 429 QUESTION 10.?

Chapter 10: Decline in Value and Capital Allowances 429 QUESTION 10.? (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. 0n 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 8 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

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