Under s8-1(1)(b) ITAA97, an expense that is "necessarily incurred in carrying on a business": Group...
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Accounting
Under s8-1(1)(b) ITAA97, an expense that is "necessarily incurred in carrying on a business":
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must be an essential and relevant expense of the business
does not need to be a necessary expense, however must be an expense that is appropriate and adapted to the ends or purposes of the business carried on
must be a foreseeable business expense
must be a necessary expense of the business
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