John is considering buying a equipment for his business. The cost is $60,000 He currently has $8,000 in funds and will therefore need to borrow to balance of the $52,000 from his bank. The bank will charge him interest at 8%. He accuried the machine on 1 jan 2021

Assume he can calin the capital allowance under 19A

Calculate the tax deduction available to Mohamed Akhtar on this transaction for the YA 2022

Answer rating: 100% (QA)

To calculate the tax deduction available to John for the Year of Assessment YA 2022 we need to consi... View the full answer