Document ID: chunk:federal_register_of_legislation:C2010C00262:clause:3_45
Version: federal_register_of_legislation:C2010C00262
Segment Type: clause
Provision Reference: sch 3 cl 45
Character Range: 39901–40944

45  Subsection 328‑205(4) (example)
Repeal the example, substitute:

Example: When Bria's van was allocated to her general small business pool for the 2007‑08 income year, she estimated that it would be used 50% for deliveries in her florist business. Due to increasing deliveries, Bria estimates the van's business use to be 70% for the 2008‑09 year, and 90% for the 2009‑10 year. She makes an adjustment under section 328‑225 for both those years.

 Bria sells the van for $3,000 at the start of the 2011‑12 income year. She must now average the business use estimates for the van for the year it was allocated to the pool and the next 3 years to work out the taxable purpose proportion of its termination value. The average is worked out as follows:
              *       50% (original estimate); plus
              *       70% (2008‑09 estimate); plus
              *       90% (2009‑10 estimate); plus
              *       90% (no change on previous year);

 The taxable purpose proportion of the van's termination value is, therefore: