A taxpayer carries on a plumbing business and employs five plumbers. The taxpayer incurred the following expenditure. Paid the accountant $500 to prepare a cash flow budget for the next three years to determine the liquidity of the business over that period of time. Paid the accountant $1,400 to prepare the business\' financial statements to enable her income tax return to be prepared and lodged by her accountant. Based on these expenses, what amount can the taxpayer claim as a tax deduction under s 25-5 ? Select one:

a. 1,400

b. $500

c. $1,900 

d. $0

Answer rating: 100% (QA)

Answer 1900 is the correct answer The Income Tax Assessment Act of 1997 subsection ... View the full answer