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HELP!!! I was so confused about why “repairs and renewals”is not tax deductable(AS Q1 IN P4 DEC.2008),while in P4 Q1 JUNE 2009,”site clearance is tax deductable? is there sm different betweent “repairs and renewals”and”site clearance”?
Please help me ,it almost drives me to mad!!!It is an assumption based on the fact that because they are payable at the end of the project there is no profit to set them off against.
However in P4, there are many places where you have to make assumptions and if you assumed that they were tax deductible (and stated your assumption) then you would still get the marks.
(Incidentally, the examiner who set this exam has since been replaced – the new examiner is more clear about this sort of thing.)thank you very much.
@johnmoffat said:
It is an assumption based on the fact that because they are payable at the end of the project there is no profit to set them off against.
However in P4, there are many places where you have to make assumptions and if you assumed that they were tax deductible (and stated your assumption) then you would still get the marks.
(Incidentally, the examiner who set this exam has since been replaced – the new examiner is more clear about this sort of thing.)
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