Margie Frump is employed as a teacher. She occasionally purchases items that she uses in the course of her employment that are subject to depreciation.

Assets held by Margie at 30 June 2021:

Margie uses each of these assets entirely for work.

• Margie has not previously used a low value pool for her assets.
• Margie wishes to maximise her deduction for decline in value.

 

Calculate the deduction for decline in value available for 2021/22.

Transcribed Image Text:

Asset Cost Date of Purchase Effective Life Laser Printer $700 31 Oct 21 5 years Mobile Phone 280 28 Feb 22 3 years Voice Recorder 175 01 May 22 4 years Asset Cost Date of Purchase Effective Life Laser Printer $700 31 Oct 21 5 years Mobile Phone 280 28 Feb 22 3 years Voice Recorder 175 01 May 22 4 years

Answer rating: 100% (QA)

To calculate the decline in value depreciation of the assets that Margie Frump uses for work well need to rely on the depreciation method that is most beneficial for her situation and in line with tax ... View the full answer