QUESTION 1 Unless there is a specific provision permitting a deduction, a person is allowed a deduction for: O A. Expenditure incurred in carrying on a business to derive assessable income for which a deduction is not denied by a General Limitation O B. Expenditure the person incurs in deriving income (O C.Expenditure incurred in carrying on a business to derive assessable income O D.All of the above QUESTION 2 If an individual is a transitional resident, which of the following income sources will be taxable in New Zealand? O A. A dividend paid by a company resident in Australia O B. None of these income sources will be taxable in New Zealand during Transitional Residency O C.Interest received on an Australian bank account O D.Income for services provide to an Australian company while outside New Zealand QUESTION 3 An individual will be tax resident in New Zealand if the individual: O A.Owns a residential property in New Zealand O B.Has a place of abode in New Zealand O C.Has New Zealand citizenship or permanent residency O D.Has been in New Zealand for 183-days or more in a 12-month period QUESTION 4 An employee purchases a laptop to use while working from home. Is the person allowed a deduction for this expenditure? O A. No, because the employment limitation denies a deduction O B.Yes, because it is incurred in deriving assessable income and the private limitation does not apply O C.No, because the expenditure is capital in nature O D.Yes, because it is incurred in deriving assessable income QUESTION 5 Which of the following is not considered to determine if a Permanent Place of Abode (PPOA) exists? O A.Whether the person has a PPOA in another country O B. Whether the person resident in another country (O C.Whether the person has stayed in the dwelling for 183-days or more O D.All of the above