Problem
Michael bought the $2,800 computer by redeeming the $200 gift card and putting the balance of $2,600 owing on his Visa card. Please advise Michael how much is tax-deductible?
Answer must include:
- What section references, cases, rulings, determinations etc. of AUSTRALIAN taxation law were used as authority the conclusion (ie. claim the deduction or not claim the deduction for these two items).