Yanni owns a medium size business that is not a small business entity but that has a turnover of less than $500 million. On 1 May 2020 Yanni purchased new machinery for use in business for $200,000. The effective life of this new machinery is ten years. What is the maximum depreciation deduction that can be claimed by the business for the purchase of this new machinery for the 2019-20 tax year?

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The Answer of Yanni owns a medium size business that is not a small business entity but that has a turnover of less than $500 million. On 1 May 2020 Yanni purchased new machinery for use in business for $200,000. The effective life of this new machinery is ten years. What is the maximum depreciation deduction that can be claimed by the business for the purchase of this new machinery for the 2019-20 tax year?

Yanni Owns a Medium Size Business That Is Not a Small