1. (c)Borrowing expenses paid by a construction company amounted to $550. The term over which the loan was repayable was 4 years. The expense was incurred on 1 January 2019. The funds were used for business purposes.
2. What are borrowing expenses? Provide specific examples. To what extent would the expenditure be allowed as a deduction for the year ended 30 June 2019?
3. (d)In October 2018Donna made the following payments to "Kwiktax", a firm ofregistered tax agents.
4. Preparation of her 2018 tax return 250 Objection to her 2017 assessment 380 Financial advice on investment in shares 195 Advice on tax planning 350

total = $1175

To what extent would the expenditure be allowed as a deduction for the year ended 30 June 2019?

Would it make any difference if, instead of using the services of Kwiktax,Donna'sfriend who is a tax tutor at Macquarie University helps her prepare her tax return for cash payment of $150?

can you please give me. a general idea on how to solve these questions