Question
Discussthe general requirements governing the deductibility of gifts; (5 Marks) whether an expense incurred after cessation of business is deductible for purposes of s 8-1
whether an expense incurred after cessation of business is deductible for purposes of s 8-1 of the Income Tax Assessment Act 1997. (5 Marks)
Your answers must be supported by reference to relevant legislation, caselaw, and/or tax rulings.
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1 Deductibility of Gifts 5 Marks The deductibility of gifts in Australia is governed by Section 3015 of the Income Tax Assessment Act 1997 ITAA 1997 A...Get Instant Access to Expert-Tailored Solutions
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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