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What is the assessable or deductible amount

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Question - Sarah owned a photocopier that was used 100% of the time for work purposes.

The photocopier was traded in for $7,500 on 30 June 2022. The item cost $17,400 when it was bought on 1 July 2020. The effective life was 4 years. Sarah used the diminishing value method to calculate the decline in value.

Required - What is the assessable or deductible amount on the sale as the balancing charge?

Reference no: EM133168452

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