7 2 pts Derek Goldfinger, a resident taxpayer of Australia, commences business operations on 1 July Year 1. His table of his operations is as follows: YR1 YR2 YR3 YR4 YR5 Exempt Pension 2,500 2,500 2,500 2,500 500 Net Income 1,200 1,000 2,200 Net Loss 8,000 1,000 Gifts to charities not 300 350 400 400 420 included in net income/loss State All the answers that are CORRECT. There will be no deduction for gift for YR1 and YR2 The loss available for offset against YR 3 profit will be $4000 The loss available for offset against YR 3 profit will be $1500 There will be a deduction for gift for Years 4 and 5 only