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Hello sir! Can we include an asset which has private use under a sub column of either special rate pool or main pool. According to your lecture notes, it’s a non pooling asset and needs a separate column for each of the asset with private use (owner’s private use). But I got confused about that because my taxation lecturer from the college which I study ACCA said we can consider those assets as a main pool item or special rate pool by creating a sub column which divides private use and business use. If I follow her advice, will I get a wrong answer in ACCA’s final exam.
There are no sub columns of the main pool or special rate pool – any asset with private use by the proprietor of the building is kept in its own separate column where the CA is then restricted to the business use proportion.
Some texts refer to each such asset as going into “its own separate pool” so maybe that is what your lecturer means – but to get this right please follow the method shown in the OT notes and lectures.thank you sir for clarifying my doubt. I argued my lecturer over this issue. I guarantee you that I will always follow open tuition lecture notes and videos.
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