What amounts are deductible under section 40

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Question: Legal fees of $2800 paid to a lawyer on 2 April 2023 for advice given in relation to the legal issues involved in setting up his business Required What amounts (if any) are deductible under section 40-880 of the ITAA (1997)? If the amount is not deductible under section 40-880, please indicate what section (if any) the item may be deductible under and the amount.

Reference no: EM133609077

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