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Patrick is in business as a fisherman. He incurs the following expenses during the year ended 30 June 2020: $300,000 $1,500 New fishing trawler Repair
Patrick is in business as a fisherman. He incurs the following expenses during the year ended 30 June 2020: $300,000 $1,500 New fishing trawler Repair of Fishing Nets Wages to his workers Cleaning the trawler Fishing licence renewal $79197 $3,000 $987 What is the total amount of expenses Patrick can deduct under section 8-1 of the Income Tax Assessment Act 1997? a. 1500+79197+3000 b. 300000+ 1500+79197+3000+987 cc 300000+1500+79197+3000 d. 1500+79197+3000+987 e. 300000+1500+79197+3000-987
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Dynamic Business Law
Authors: Nancy Kubasek, M. Neil Browne, Daniel Herron, Lucien Dhooge, Linda Barkacs
6th Edition
9781260733976
