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Denko Pty Ltd manufactured performance motorcycles. During the year, it determined that it could not...

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Accounting

Denko Pty Ltd manufactured performance motorcycles. During the year, it determined that it could not collect payment in respect of a motorcycle it sold to a dealer three years ago. Since then, the company no longer manufactures performance motorcycles and instead makes motorised scooters.

Describe the source of Australian tax law which would determine if the company can claim a tax deduction for the bad debt write off.

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