Monthly archives: November, 2019

Depreciation and changing a vehicle from business to private use

Question Balancing Adjustment: Motor Vehicles Extract from ATO:“If you cease to hold or use a depreciating asset, a balancing adjustment event may occur. If there is a balancing adjustment event, you need to calculate a balancing adjustment amount to include in your assessable income or to claim as a deduction. A balancing adjustment event occurs …

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