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The taxpayer incurs the following expenses in relation to business premises he leases in a...

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Accounting

The taxpayer incurs the following expenses in relation to business premises he leases in a 711 shop.

  • $500 - Payment of a penalty to the council, for breaching certain by-law
  • $1,000 - Bond forfeiture given repairs were required by landlord after taxpayer's lease had ended
  • $4,000 - Re-painting of the walls, which had been painted 4 years before
  • $6,000 - Payment to replace a wooden floor with a concrete floor and tiles.

What deductions are available to the taxpayer under s25-10 and s25-15 ?

Select one:

a. $1,500

b. $500

c. $5,000

d. $10,000

e. $11,500

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