Edward incurred borrowing expenses of $999 in relation to a three-year loan taken on 1 July 2022 to finance an extension to his family business.
Edward incurred borrowing expenses of $999 in relation to a three-year loan taken on 1 July 2022 to finance an extension to his family business. How much can Edward claim as a deduction in relation to the borrowing expenses for the year ending 30 June 2023?
a.
$333
b.
$250
c.
$999
d.
Nil
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Authors: David Alexander
2nd Edition
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