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Discuss finance its working capital requirements

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Reference no: EM131714671

"General Deductions"

Super-Fast Transport Ltd incurred expenses of $5000 in arranging a loan to finance its working capital requirements and an expansion of its debtors. The loan of $1, 000,000 was for four years and was entered into on 1 April 2015.

Advise Super-Fast Transport Ltd whether it could claim any of the loan expenses as a tax deduction for the 2014/2015 tax year?

Use relevant laws and sections to justify your answer. Detail discussion is required.

Reference no: EM131714671

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