22 Which of the following is most likely to be a deductible gift under Division 30? Oa. A business donates $5,000 to a DGR under an agreement whereby the DGR will preference that business for future client referrals. Ob. A business donates $5,000 to a DGR and their donation was announced at a charity event along with all the other donor OCA business with a tax loss of $50,000 for the current income year makes a donation of $5,000 to a DGR. Od. A business donates $5,000 to a DGR in exchange for a series of advertisements during a charity evnt. QUESTION 23 In which section of which Act is the formula to calculate income tax liability located? Oas 6-5 of ITAA 1997 Ob.s 6-23 of ITAA 1997 Os 4-10 of ITAA 1997 Ods 21A of ITAA 1936 QUESTION 24 Complete Tapware is a small manufacturer of tapware. In order to secure new warehouse premises, Complete Tapware was required to prepay two years rent at a cost of $25,000 per annum. The lease commenced on the 1 May 2021. The taxpayer has elected not to apply the small business entity (SBE) concessions. What is Complete Tapware's deduction in respect of prepaid rent for the year ended 30 June 2021 (ignoring the impact of any leap years)? Oa. $25,000 O b. $4,178 Oc$50,000 Od. $8,616 QUESTION 25 In October 2020, Old MacDonald sold some farm cottages for $90,000 and incurred legal fees of $1,200. The cottages were originally acquired in October 1999 for $40,500. Calculate the capital gain or loss that Old MacDonald must include in his income tax return for the year ended 30 June 2021 assuming he has no other capital gains for the year and no carried forward losses. Oa. $0 b. $49,500 OC $24,150 Od. $24,750