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In reference to Illustration 3 in the OpenTuition tax video titled “Additions continued including Special rate pool”
I’m a bit confused concerning the order of additions. I thought they were listed in order of the time the purchases are made but in the illustration the long life asset comes first (using up all the AIA allowance)
Can you explain please
You need to look back at the Study Notes and the lectures where you are instructed to apply the AIA firstly to Special Rate Pool Expenditure – the AIA is not applied on a chronological basis.
See Study Notes Chapter 5 – Section 3 final paragraph.
Hope this resolves problem
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