Assignment task: Fourth tax efficient strategy AIS consider acquiring the plant & machines and factory use of produce new product and expenses must incur after the commence date. It would affect Is because revenue expenses incurred prior to commencement are not deductible. Qualifying expenditure must deem incurred on date of commencement, in para55 say that initial allowance is available in the first YA of commencement date, it was effective to claim full CA during after the business commenced
-New vehicle (non commercial vehicle) such as van for delivering product (and it also can claim tax deduction)
-New Equipment (purchase equipment for the business usage), small asset value (each asset less than 2k, 20k in aggregate per year)
-Show Capital Allowance calculation, Chargeable Income, tax payable (provide a table)
(Write equipment and vehicles can claim how much Capital Allowance and find the equipment and vehicle prices from internet for example and explain it.)Information is at above.