ABC Ltd. is a company that owns a pine tree plantation. During the current year, ABC Ltd. expended $50,000 on fertilisers, sprays, etc. to maintain trees that would not yield income for another 10 years. The $50,000 is: A. To be apportioned over the life of the trees as it is not all related to the current year under s8-1 B. An allowable deduction under s8-1 because it is incidental and relevant to the earning of future income C. A capital improvement that can be depreciated under Div 43 D. Not an allowable deduction under s8-1 because there is no assessable income at the current time from these trees

Taxation law