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Hello Sir,
I was trying out the example 3 of the non chattel wasting asset.
The reduction for allowable cost computation states:
12/30 x (25000 – 1000)
Bought on 1 March 2007 and Sold on 1 March 2021.Should the period of ownership be 14 years?
Please advise.
Thank you.
Sincerely,
Maria
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