Q1 Which of the following taxes is not deductible?
Select one:
a. Goods and Services Tax
b. None of the answers are correct
c. Payroll tax
e. Fringe Benefits Tax
Which of the following amounts is fully deductible?
Select one:
b. Regular giving of $50 per week to the local church
d. A gift of $4,000 to a political party
e. A gift of $3,000 cash to a Deductible Gift Recipient
Q3 Which of the following transactions is fully deductible?
Select one:
a. An allowance for doubtful debts of $6,000
d. None of the answers are correct
e. A bad debt of $880 including GST (relates to sales notpreviously included as assessable income)
these questions is about chapter 9 of prepare tax documentationfor individuals and this chapter will be determine amountsdeductible under specific provision of the ACT
- specific deductions under section 8-5
- tax related expenses
- repairs
-lease document expense
- borrowing expense
-mortgage discharge expense
- bad debit
