0n 1 December 2020 a business taxpayer purchases a new leather chair costing $7,000 for use in her head office. Which of the following would be the most accurate explanation for the fact the taxpayer could not deduct the payment under s8-1 of the Income Tax Assessment Act 1997 in the 2021 year.

		The payment is capital in nature.
		The payment represents a prepayment by virtue of sec. 82KZL of the Income Tax Assessment Act 1936.
		The payment is of a private and domestic nature.
		The payment is specifically excluded by a provision of Income Tax Assessment Act 1936.
		There is no nexus between incurring the expense and the derivation of assessable income