because there’s a difference between effective life for accounting purposes and business legislation for tax purposes.
e.g if you buy a car for $50,000 for you business. The $50,000 is deductible immediately. This would show $0 in value remaining in the tax books for the vehicle because the entire value has been claimed.
however, if you wanted to sell it a year later, the value of the car is obviously not $0. It would be a reduced value based on depreciation for accounting purposes. E.g $37,500.
If you sold the car for then $37,500 against a nil balance in the books the gain would be $37,500.
So the “possible tax” or deferred tax liability payable on $37,500 would be $11,250 (assuming a 30% tax rate for a coy)
it’s not to say the coy will have to pay that. Just that they may have to at that date. If they wait the full 8 years before selling the car the value for accounting and tax would be $0 so no deferred tax in the future.
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Last
72.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $44.96M |
Open | High | Low | Value | Volume |
72.0¢ | 72.0¢ | 72.0¢ | $11.09K | 15.41K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 13466 | 72.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
73.0¢ | 159 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 13466 | 0.720 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.730 | 159 | 1 |
0.750 | 200 | 1 |
0.790 | 500 | 1 |
0.800 | 6001 | 1 |
0.850 | 10000 | 1 |
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