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QVE Limited is an insurance company. The 30 June 2020 financial statements show 350 TAXATION LAW AND PRACTICE 10.16 (Deductibility of various items for Tax
QVE Limited is an insurance company. The 30 June 2020 financial statements show 350 TAXATION LAW AND PRACTICE 10.16 (Deductibility of various items for Tax purposes) $100,000 $120,000 $140,000 the following items: Provision for employee long service leave Provision for employee annual leave Estimated year end insurance claim payable Claims included in year end insurance claim payable that could not be calculated exactly and are based on best estimates using historic claims in previous years Amount payable on signing an advertising contract signed on 1 February 2020 Minimum TV advertisements required under the advertising contract to be shown on the first day of each month at $10,000 per advertisement from 1 February 2020. Advise QVE Limited on which items are deductible for the year end 30 June 2020. $20,000 $80,000
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