Question: The second positive limb for the general deductions provision in section 8-1(1)(b) ITAA97 imposes a stricter nexus test than for the first positive limb in

The second positive limb for the general deductions provision in section 8-1(1)(b) ITAA97 imposes a stricter nexus test than for the first positive limb in section 8-1(1)(a). This is because the word necessarily limits deductions for business taxpayers to unavoidable expenses.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!