A vehicle has an original price of $50k. An old vehicle was traded in for $1000 with the purchase. Does the cost base of new vehicle need to be adjusted by $1000 ? ie adjusted cost base becomes $40k ?
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Cost base is a CGT concept - not depn.
Trade-in is part of the payment for MV - does not change cost base, or cost for depn.
Cost base is only an issue if MV is not a car.
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Cost base is a CGT concept - not depn.
Trade-in is part of the payment for MV - does not change cost base, or cost for depn.
Cost base is only an issue if MV is not a car.
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