Question
Would the following be deductible under section 8-1? Support your arguments by reference to the structure of s8-1 ITAA 1997. 1. The theft of the
Would the following be deductible under section 8-1? Support your arguments by reference to the structure of s8-1 ITAA 1997. 1. The theft of the day's takings from the business premises of a taxpayer. 2. Day care expenses for the child of an employed solicitor, incurred in the pursuit of her career. 3. The cost of dog food for a cattle dog 4. Insurance premiums: - paid for personal disability insurance for loss of income producing capability - paid for an income protection policy for loss of income - paid for fire insurance premiums in respect of business premises. 5. Lease payments on a shop where the business had ceased to trade but the lease did not expire for another 12 months. 6. Travel expenses incurred by a director of a company for the purpose of investigating export potential where: - There is no existing overseas market - There is a small existing overseas market and the director wishes to expand operations 7. The costs of meals incurred by a lecturer employee who is required to teach after hours. 8. The cost incurred by an employee accountant in buying a suit compliant with the employer's dress code worn to impress clients so they can gain more clients.
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