Answered step by step
Verified Expert Solution
Question
1 Approved Answer
to Q-6.5 (Concession for pre-paid expenditure) Note- Please show all workings where necessary and you may use additional space below Please write your workings/explanations and
to Q-6.5 (Concession for pre-paid expenditure) Note- Please show all workings where necessary and you may use additional space below Please write your workings/explanations and answers in Blue cells Jon, operating a retail food outlet Business Deduction Items (exclude GST) $ " Write your Reasons or Workings (if applicable)" "Enter deduction amount here $" Total shop rental payments during 2021/22 300,000.00 Balance of rent paid in advance as at 30 June 2022 60,000.00 Total insurance premium payments during 2021/22 72,000.00 Balance of insurance paid in advance as at 30 June 2022 24,000.00 Prepayment of 3 year equipment lease 360,000.00 Balance of lease payments in advance as at 30 June 2022 240,000.00 Business Deductions - TOTAL BUSINESS DEDUCTIONS
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started