Since 30 June 2020, Elise has been involved in defending a defamation case, in the ordinary...

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Since 30 June 2020, Elise has been involved in defending a defamation case, in the ordinary course of her business. The case has been concluded and she has paid $30000 in settlement of the case and $2000 in related legal fees. Research and determine the basis on which these payments are tax deductible. Draft an email to the ATO detailing the tax deductions sought, the basis for the claim, and seeking the opinion of the ATO. These amounts are not to be included in the 2020 tax return. Send 0 To... From... Subject Since 30 June 2020, Elise has been involved in defending a defamation case, in the ordinary course of her business. The case has been concluded and she has paid $30000 in settlement of the case and $2000 in related legal fees. Research and determine the basis on which these payments are tax deductible. Draft an email to the ATO detailing the tax deductions sought, the basis for the claim, and seeking the opinion of the ATO. These amounts are not to be included in the 2020 tax return. Send 0 To... From... Subject

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To Australian Taxation Office ATO From Your Name Subject Inquiry Regarding Tax Deductibility of Settlement and Legal Fees Dear SirMadam I am writing t... View the full answer