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How many of the following gifts are an allowable deduction? $1 cash gift paid...

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Question

Accounting

How many of the following gifts are an allowable deduction?

  • $1 cash gift paid to Red Cross
  • $10 gift paid for Boystown lottery ticket
  • $100 cash gift paid to Girl Guides Australia
  • $1000 gift of shares given to La Trobe University
  • $10,000 Pro Hart painting gifted to National Gallery of Victoria

Select one:

a. 1

b. 2

c. 5

d. 3

e. 4

  • $100,000 cash donated to the Crown Casino

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