Daniel leased a 3000cc motor vehicle on 1 July 2014 and maintained a log book for 12 weeks during the year.

| April 14, 2018

Daniel leased a 3000cc motor vehicle on 1 July 2014 and maintained a log book for 12 weeks during the year. During the 12 week period Daniel travelled 5,000kms of which 1,200kms were business related. Costs incurred during the 2015/16 year include

    $
Petrol, oil and servicing    2,500
Lease payments    7,800
Registration and insurance    2,000
Speeding fines    350
TOTAL    12,650
Note that the car had a market value of $60,000 at the inception of the lease

Required:

Show all available methods of calculating the motor vehicle expenses and choose the most advantageous method for Daniel for the year ended 30 June 2016.

Order your essay today and save 30% with the discount code: ESSAYHELP
Order your essay today and save 30% with the discount code: ESSAYHELPOrder Now