John is a doctor who works as a sole practitioner, operating through a rented room in a
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John is a doctor who works as a sole practitioner, operating through a rented room in a medical clinic.
During the 2021 income year he paid $16,000 for 12 months rent in office rental fees in one instalment, as well as $1,500 on a new sofa for his office purchased in July 2020. Wishing to improve his management skills, in January 2021 he enrols in an MBA course at the local university at a cost of $5.000 per semester.
Assuming John does not qualify for the small business entities concessions of Subdiv 328-D ITAA97, how much is he entitled to claim as a deduction in the current year?
a.
$5,000
b.
$6,500
c.
$16,000
d.
$21,000
e.
$18,000
f.
$22,500
Related Book For
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
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