Please show the proper way step by step how to do the calculation.Please show the proper way step by step how to do WRITE if based on Australia Taxation . Please indicates cases are relevant. Question 5.3Discuss whether a deduction would be allowable for the following:1.2.3.4.Provision for the estimated amount of trade debtors' accountswhich might not be collected.Fines paid by a bookmaker for conducting illegal off-coursebetting activities.An amount of $450 paid to a solicitor for preparing a partnershipdeed.The expense incurred by the production manager of a large firm oftravelling overseas to purchase a new computer. 5.6.7.8.9.The salary of a housekeeper employed by a taxpayer whoconducts a business which demands attendance in the city duringthe day.The cost incurred by a company operating a drive-in theatre toreconstruct a public access road, converting it from a gravel roadinto a more wear-resistant bitumen road.Newspapers purchased by an accountant who advises clients onfinancial and investment matters.The cost of dog food and veterinary expenses in respect of twodogs used by a scrap metal dealer as watchdogs.The cost incurred by an insurance consultant for a home phoneanswering service used to record calls while out. (It is estimatedthat half of the calls recorded are private. However, prior toaccepting his position as an insurance consultant the taxpayer didnot have an answering service.)10. Travelling expenses incurred by a school teacher in using her owncar to attend sports afternoons. The sporting activities were at anearby field and the only alternative means of transport was towalk.

The ITAA 1997 refers to the Income Tax Assessment Act 1997 of Australia. It is a federal law that…

Discuss whether a deduction would be allowable for the following: 1. Provision for the estimated amount of trade debtors' accounts which might not be collected. 3. Fines paid by a bookmaker for conducting illegal off-course betting activities. An amount of $450 paid to a solicitor for preparing a partnership

Discuss whether a deduction would be allowable for the following: 1. Provision for the estimated amount of trade debtors' accounts which might not be collected. 3. Fines paid by a bookmaker for conducting illegal off-course betting activities. An amount of $450 paid to a solicitor for preparing a partnership

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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