The taxpayer conducts business and has a turnover of $55m. On 1 September 2019 the taxpayer purchases

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Question:

The taxpayer conducts business and has a turnover of $55m. On 1 September 2019 the taxpayer purchases a car, that is used 80% for business purposes. The car costs $80,000 and has an effective life of 8 years. What is the maximum deduction available to the taxpayer in 2020? Select one

a. $46,065

b. $4,783

c. $64,000

d. $11,957

e. $9,565