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Alison Bourbon owns and operates a fitness studio. Alison commenced business in October 2022 and has concerns over the deductibility of certain transactions. She has
Alison Bourbon owns and operates a fitness studio. Alison commenced business in October 2022 and has concerns over the deductibility of certain transactions. She has provided the following information TRANSACTIONS $ Feasibility and business set-up costs incurred in July 2022 30,000 Employee leave paid during 2022/23 9,000 Employee leave accrued and outstanding as at 30th June 2023 7,000 Purchases of supplements (ordered and received) 27,000 Purchases of supplements (ordered and in transit) 3,000 Trading stock on hand as at 30th June 2023 (at cost) 5,000 Expired stock included in June stocktake 1,000 REQUIRED: a) For each amount, advise Alison whether it is deductible for the 2023 income year b) Explain your answer with reference to the relevant section. Class Activity 4 4 9 Tyler Swift operates an IT c
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