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Select the incorrect alternative in relation to the bad debts deduction of s 25-35 ITAA97: A taxpayer accounting under t
Posted: Sun Jun 05, 2022 9:17 pm
by answerhappygod
- Select The Incorrect Alternative In Relation To The Bad Debts Deduction Of S 25 35 Itaa97 A Taxpayer Accounting Under T 1 (44.77 KiB) Viewed 59 times
Select the incorrect alternative in relation to the bad debts deduction of s 25-35 ITAA97: A taxpayer accounting under the cash method may claim a deduction for bad debts. O The debt must be irrecoverable before it can be regarded as a bad debt O The debt to be written off must have been included in the taxpayer's assessable income in the current income year or in an earlier income year. O The debt must be formally written off in the taxpayer's books in the year in which the deduction is claimed.