2021-07-19 04:55:00 UTC
and on a related subject, does this miss anything?
I rock up to the local Toyota dealer and purchase a Toyota Hilux at $
Joe the builder or Terry the farmer also purchase the same model ,
same price $70000.
They then claim back the GST content $9130.00. The cost of the Hilux
is now $60870.00
In Year one the Hilux depreciates 30% =$18261.00 which is tax
deductable at $0.28= $5113.00.
The book value is now $42609.00
In Year Two the Hilux depreciates a further $30%= $12783.00 which is
tax deductable at $0.28 =$3579.00
The book Value is now$ 29826.00. Over three years the deductable tax
is $17822. And so it goes on until the Hilux is sold or scrapped.