Identify how many of the following scenarios involve blackhole expenditure that can be claimed under s 40-880,
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Question:
Identify how many of the following scenarios involve blackhole expenditure that can be claimed under s 40-880, either in full or over 5 years
- On 1 July 2022, a SBE taxpayer set up his business by registering and establishing a company costing $2,000
- On 1 July 2022, a SBE taxpayer converted the existing business structure as a sole trader to a company structure costing $2,500
- On 1 July 2022, a SBE taxpayer ceased his cafe, incurring $4,000 in legal fees to wind up the business
- On 1 July 2022, a SBE taxpayer raised equity for his business costing $1,000
- On 1 July 2022, a SBE taxpayer commissioned a feasibility study costing $1,500 to establish a business at the local shopping centre, and subsequently commenced business on 1 October 2022.
a. 5 scenarios are blackhole expenditure under s 40-880
b. 3 scenarios are blackhole expenditure under s 40-880
c. 2 scenarios are blackhole expenditure under s 40-880
d. 1 scenario only is blackhole expenditure under s 40-880
e. 4 scenarios are blackhole expenditure under s 40-880
Related Book For
Quantitative Methods for Business
ISBN: 978-0324651751
11th Edition
Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey cam
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