Question: While Clare is a financial planner by day, she is also an underground mobster (in the making) by night and sells illicit substances. She has been convicted of an indictable (i.e. criminal offence) for these activities. Throughout the current year, she spent $7,500 buying ingredients to make her illicit substances. Based on the above facts and relevant tax laws, how should Clare treat the $7,500 for tax purposes? (select the best answer) It is NOT an allowable deduction It is ordinary income and should be included within Clare's assessable income It relates to earning assessable income and should be claimed as an allowable deduction It is exempt income and should NOT be included within Clare's assessable income