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(e) Is expenditure incurred in deriving exempt income deductible? How is the position different when a taxpayer incurs expenditure in deriving excluded income? (f) Does

(e) Is expenditure incurred in deriving exempt income deductible? How is the position different when a taxpayer incurs expenditure in deriving excluded income?

(f) Does the deductibility of an expense or loss follow accounting practice?

(g) If the amount of an expense cannot be precisely determined at the end of a particular income year, does this necessarily preclude a taxpayer from being able to claim a deduction in that year?

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