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Question 2 Referring to relevant statutory provisions and common law, discuss whether the following amounts would be as an allowable deduction against assessable income. Provision
Question 2
Referring to relevant statutory provisions and common law, discuss whether the following amounts would be as an allowable deduction against assessable income.
- Provision of doubtful debts of $4,200 for a detective agency.
- Speeding fines of $ 700 paid by an owner to a driver.
- An amount of $1,000 paid to a solicitor for preparing a partnership deed.
- Travel cost of a business executive to attend a trade fair in Munich paid by the employer.
- Newspapers purchased by an accountant who advises clients on financial and investment matters.
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