Solution-Discuss alex travelling expenses

Discuss alex travelling expenses

Assignment Help Cost Accounting

Reference no: EM132560828

Alex Kingsford is a mechanical engineer working for ABC Engineering in Melbourne. Alex owns a property in Dandenong, Victorian where he and his family are residing. He also runs a homebased food catering business, preparing food for local residents and school canteens. Catering business is well-structured. Alex works 15 days a month and earns a substantial income from the catering services business. He is travelling from ABC Engineering workshop to his homebased business by car or sometimes Uber. When he lodged his tax return in July 2019, he has HI6028 Taxation Theory, Practice and Law Individual Assignment T1.2020 4 requested a deduction for a substantial amount of travelling expenses between the ABC Engineering workshop and home-based food business. Alex is now seeking your advice.

Question 1: With reference to relevant legislation and case law discuss whether Alex's travelling expenses between the ABC Engineering workshop and his homebased catering business is an allowable deduction.

Reference no: EM132560828

Questions Cloud

Describe the need for a petty cash fund : Describe the need for a petty cash fund. How does the fund work and why is it needed? What are some controls that should be placed on the petty cash fund

Prepare amortization schedule until end of lease term : Prepare amortization schedule until end of lease term and prepare journal entries for ANNA Bhd to record leasing activities during the first and second year

Find what would be the break-even ebit for okr ltd : What would be the break-even EBIT for OKR Ltd? In Plan I an all-equity capital structure, OKR Ltd will have 0.6 million shares outstanding.

What would you discuss with your boss : Management selected you for this expatriate assignment for next three years. Your boss will have a meeting with you next week. What would you discuss with boss

Discuss alex travelling expenses : Discuss whether Alex's travelling expenses between the ABC Engineering workshop and his homebased catering business is an allowable deduction.

Find and discuss casinos prepaid rent is considered : Find and discuss whether casinos prepaid rent is considered a revenue expense or a capital expense, With reference to relevant legislation and case law

Make the General Journal entry for July : Alpha Company sold goods to customers who used Under-the-Hill bank credit cards. Make the General Journal entry (without explanation) for July 8, 2016

What is the break-even level in tires : HASF Tires, Inc. sells tires to service stations for an average of $45 each. What is break-even level in tires, assuming variable costs increase by 30 percent

Comp1447 introduction to oo programming assignment : COMP1447 Introduction to OO Programming Assignment Help and Solution - Create a Piranha class based on the example OrangeFish class in the FishORama project

User Account

All Pages

Discuss alex travelling expenses

Reference no: EM132560828

Reference no: EM132560828

Questions Cloud

Reviews

Write a Review

Cost Accounting Questions & Answers

Cost accounting assignment

Prepare the journal entries

Advise as to the liability of all the parties

Prepare revenues budget

Effect of exchange rate changes on cash and cash

Corporate governance

Cost-benefit analysis

Non-annual interest rates and annuities

Job costing in service organizations

Accounting for bad debt expense

Accounting and partnership problems

Development of relevant cash flows

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT