Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

X L Question 4 Bert spends $10.60 a day travelling to work, and a further $65 a day sending his daughter Belle to a childcare

image text in transcribed

X L Question 4 Bert spends $10.60 a day travelling to work, and a further $65 a day sending his daughter Belle to a childcare centre. Bert just received the monthly account for the childcare centre totalling $1,625, which he needs to pay immediately Bert owns a newspaper publishing company. He has paid a membership fee with respect to his personal membership of the World Association of Newspapers, amounting to $3,300, and he has bought a new computer for $2,200 that he keeps in his study at home. Bert has recently purchased a beach house near Geelong. The property has been rented out to Bert's sister since he purchased it. He took out a 25-year loan to finance the purchase. His interest payments are $7,200 a year. Bert also claims lawn-mowing expenses of $100 per month with respect to his beach house. Required: Advise Bert about the deductibility of the above expenses. Where appropriate, refer to case law and legislation in your answer 20 marks Click or tap here to enter text. Activate Windows Go to Settings to activate Windows. $ 10:54 PM 6/16/2020 714 X L Question 4 Bert spends $10.60 a day travelling to work, and a further $65 a day sending his daughter Belle to a childcare centre. Bert just received the monthly account for the childcare centre totalling $1,625, which he needs to pay immediately Bert owns a newspaper publishing company. He has paid a membership fee with respect to his personal membership of the World Association of Newspapers, amounting to $3,300, and he has bought a new computer for $2,200 that he keeps in his study at home. Bert has recently purchased a beach house near Geelong. The property has been rented out to Bert's sister since he purchased it. He took out a 25-year loan to finance the purchase. His interest payments are $7,200 a year. Bert also claims lawn-mowing expenses of $100 per month with respect to his beach house. Required: Advise Bert about the deductibility of the above expenses. Where appropriate, refer to case law and legislation in your answer 20 marks Click or tap here to enter text. Activate Windows Go to Settings to activate Windows. $ 10:54 PM 6/16/2020 714

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Continuity Management Audit A Complete Guide

Authors: Gerardus Blokdyk

2019 Edition

0655845860, 978-0655845867

More Books

Students also viewed these Accounting questions

Question

Differentiate 3sin(9x+2x)

Answered: 1 week ago

Question

Describe the appropriate use of supplementary parts of a letter.

Answered: 1 week ago