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Opentuition Practice Qn 7: Peter

This topic has 1 reply, 2 voices, and was last updated 6 years ago by Tax Tutor.

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May 19, 2018 at 4:37 am #452763
Shreya
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I was very confused by the answer to this practice question. Why is the insurance computed for 10 months for 2017/18 when the insurance was paid for y/e 31/5/17? Shouldn’t the insurance only be for 2 months?
Thanks in advance!
May 21, 2018 at 4:01 am #453059
Tax Tutor
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Thank you for your query and alerting me to an updating error, clearly the insurance cost quoted should be for year end 31 May 2018 NOT 2017 as the properties were only acquired on 1 June 2017
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