Which of the following business expenses is not a deduction for the purposes of income tax?

Question

Quizplus · Accepted Answer

The purchase price of business premises is not deductible for income tax purposes because it is considered a capital expense. Capital expenses are not deductible in the year they are incurred, but may be eligible for deductions over a period of time through depreciation or amortization. The other options listed, employees' wages, cost of trading stock, and motor vehicle expenses, are all deductible business expenses.

Which of the Following Business Expenses Is Not a Deduction