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Explain the rationale behind deductions and discuss why nexus to earning income is central to claiming general deductions. How do specific deductions differ in this
Explain the rationale behind deductions and discuss why nexus to earning income is central to claiming general deductions. How do specific deductions differ in this regard? Give examples. Should deductions be capped to what are reasonable expenses rather than actual expenses? Can you think of an example of such a restriction under the ITAA97.
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