教程講稿相關6

1、Question 6-1Fiona paid $78,000 for a new car on 1 August 2013. She uses the car 70% for business use. The Commissioners determination of the effective life of a car is 8 years, but she self-assesses the effective life of the car to be 5 years.Assuming Fiona has maintained a log book explain the depr

2、eciation deduction, comparing both depreciation methods, for the car for the year ended 30 June 2014.Two methodsDiminishing value methodPrime cost methodelements in the formulasbase value (section 40-70(1) is (a) for the e year in which the assets start time occurs - its cost(b) for a later year- th

3、e sum of its opening adjustable value for that year and any amount included in the second element of its cost for that yearAssets cost(Section 40-175) includesthe first element of cost and the second element of costSection 40-230 adjustment: car limitFor the purpose of calculating the deduction avai

4、lable for the decline in value of a car, a limit is placed on the first element cost(s40-230) For the car first held in 2013/2014,the limit is $ 57,466 (Taxation Determination TD 2013/15)in this case: $57,466section 40-95 choice of determing effective lifetaxpayer can choose either:(a) to use an eff

5、ective life determined by the Commissioner for a depreciating asset ,or(b) to self-assess the effective life of the asset (s40-95).section 40-25 deducting amounts for depreciating assetssection 40-25(2) The deduction is reduced to the extent that the depreciating asset is used for a purpose other than a taxable purpose.in the case, reduced by 30%.Calculationdiminishing value methodprime cost methodbase value: $57,466Assets cost: $ 57,466days held:334 days (365-31, from 1 August 2013)days h