Wasting assets
You'll learn how to calculate gains and losses on wasting assets like copyrights and patents, a key skill for tax calculations in ATX and SBR.
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In this lesson
- 0:00 Wasting assets and depreciation basics
- 0:30 Calculating allowable cost on disposal
- 1:02 Worked example: copyright disposal calculation
About this lesson
This lesson covers the depreciation method used to determine allowable cost on disposal: you multiply the original cost by the remaining useful life divided by the total estimated life. Through a worked example of a copyright sale, you'll see exactly how to identify what asset you're actually selling and apply the formula to find the taxable gain.
Duration: 2m
Transcript
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