Question 1 Jack receives his electricity bill on 20 June 2021….

Question Question 1 Jack receives his electricity bill on 20 June 2021…. Question 1Jack receives his electricity bill on 20 June 2021. Assume that Jack uses the electricity to power his business 100%. (Why is this important?). The amount of $1,200 is due for payment on 10 July 2021. Jack pays his electricity bill on 2 July 2021.When is the outgoing incurred?Would your answer be the same if Jack was paying his car registration for the next 12 months? Why?Question 2Discuss whether the following would be deductible under Section 8-1 of the ITAA (1997).Internet bill dated 18 June 2021 for $200 where the taxpayer was able to establish a pattern of usage showing that it was used 100% for business.Mobile phone bill dated 8 June 2021 for $130. The phone was used for calling family members.ASIC fee invoice dated 12 June 2021 for $100 in respect of the registration of a new business name.Question 3Tony is a successful doctor. He runs a practice in North Sydney. He has the following items in his waiting room and wants your advice:Woman’s day magazines for clients to read; Flowers to freshen up the room and cups for water cooler.Can Tony’s business claim these items as a tax deduction?Question 4Discuss whether the following would be deductible under Section 8-1 of the ITAA (1997).A manager of a production business travels to Hong Kong to buy a machine. The machine is worth $1million. The travel costs including accommodation is $15,000. Question 5Discuss whether the following outgoings would be allowed as a tax deduction.A police officer washes her police uniform.A school teacher wears a $200 pair of sunglasses whilst on playground duty.The cost incurred by an employee accountant in buying a suit compliant withthe employer’s dress code worn to impress clients, so they can gain more clients. Law Social Science Tax law ACC 304 Share QuestionEmailCopy link Comments (0)

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