Wildsong Enterprises Pty Ltd is a business (not a small business entity) that disposed of two assets in the year ended 30 June 2020. One asset, a van, had a written down value of $30,000 as at 1 November 2019 (the date of disposal) and it was disposed of for $40,000. The other asset, machinery, had a written down value of $42,000 and was disposed of for $28,000. What are the tax consequences of these two disposals of plant and equipment for Wildsong Enterprises Pty Ltd for the year ended 30 June 2020?

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The Answer of Wildsong Enterprises Pty Ltd is a business (not a small business entity) that disposed of two assets in the year ended 30 June 2020. One asset, a van, had a written down value of $30,000 as at 1 November 2019 (the date of disposal) and it was disposed of for $40,000. The other asset, machinery, had a written down value of $42,000 and was disposed of for $28,000. What are the tax consequences of these two disposals of plant and equipment for Wildsong Enterprises Pty Ltd for the year ended 30 June 2020?

Wildsong Enterprises Pty Ltd Is a Business (Not a Small