Frank Capone conducts business as a toy distributor. He is not a SBE taxpayer. Frank employs...

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Frank Capone conducts business as a toy distributor. He is not a SBE taxpayer. Frank employs sales and delivery staff who use several business-related vehicles as follows: Vehicle Business use Nissan Ford Van Toyota Hino Truck* Audi Volvo Date Acquired 1 July 2013 1 July 2017 1 July 2018 1 July 2019 1 July 2018 1 July 2019 Cost ($) 27,000 40,200 30,000 127,500 59,000 74,580 Adj. Value at 30/6/19 10,825 28,220 22,500 N/A 44,842 N/A 85% 100% 64% 100% 53% 78% Each vehicle is to be depreciated using an effective life of 8 years. * The Hino Truck has a 3-tonne carrying capacity. Depreciation Method Prime Cost Diminishing Value Diminishing Value Diminishing Value Prime Cost Diminishing Value Calculate the deduction available to Frank for the decline in value of these vehicles in respect of the 2019/20 tax year. Frank Capone conducts business as a toy distributor. He is not a SBE taxpayer. Frank employs sales and delivery staff who use several business-related vehicles as follows: Vehicle Business use Nissan Ford Van Toyota Hino Truck* Audi Volvo Date Acquired 1 July 2013 1 July 2017 1 July 2018 1 July 2019 1 July 2018 1 July 2019 Cost ($) 27,000 40,200 30,000 127,500 59,000 74,580 Adj. Value at 30/6/19 10,825 28,220 22,500 N/A 44,842 N/A 85% 100% 64% 100% 53% 78% Each vehicle is to be depreciated using an effective life of 8 years. * The Hino Truck has a 3-tonne carrying capacity. Depreciation Method Prime Cost Diminishing Value Diminishing Value Diminishing Value Prime Cost Diminishing Value Calculate the deduction available to Frank for the decline in value of these vehicles in respect of the 2019/20 tax year.

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DEDUCTIONS EXPENSES AVAILABLE Nissan 1008 years 125 Amount claimable cost 125 business use Amount cl... View the full answer