I bought a second hand car on Feb 2024 which I use 85% for work. I work as an electrician and have to carry tools everyday to work sites. It's a 2019 model purchased for 29K. ATO says car's effective life is 8 years. So, my question is, Can I still claim depreciation of my car for 8 more years with opening value of 29K? Or do I have to consider the number of years it's been used by the previous owner?
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2,552 views1 replies
1 replies
2,552 views
1 replies