Which of the given is a taxable activity

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Reference no: EM132213274

Quesiton: As per New Zealand taxation law-

Which of the following is a taxable activity?

(a) Renting out a small commercial building in Napier for $52,000 per annum.

(b) Renting out a residential house in Ponsonby, Auckland for $62,400 per annum.

(d) Selling a house which you have inherited from your mother's estate for $800,000.

Which of the following transactions is fully deductible as a business expense in the year ending 31 March 2018?

(a) Legal costs of $18,600 for purchasing a new business.

(b) Legal costs of $7,600 relating to collecting doubtful debts.

(d) Costs of $10,000 for a fine imposed by government for breaching a resource consent and dumping toxic waste.

Reference no: EM132213274

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