
227 tax time Q&A with an accountant
Dev Raga Personal Finance
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Can I Deduct 57 Thousand Dollars?
There is a cap for the instant asset rit off, just depends on which method that you go down. Motor vehicles are capped at a car limit, and it's around 57 thousand dollars. If i sell that car in three years time and buy a new ute, can i do another instant right off again? And if so, how many times can i do this during a lifetime? Can i do it every three yearsyes, so that was a good question.
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