Which expense is fully deductible for Australian corporate tax purposes

Which expense is fully deductible for Australian corporate tax purposes

Which expense is fully deductible for Australian corporate tax purposes?

A. Fines for illegal operations

B. Ordinary business operating expenses

C. Private personal expenses of directors

D. Capital expenditure for asset acquisition

Answer: B

Explanation: Ordinary business expenses incurred for generating assessable income are tax deductible; fines and private expenses are non-deductible.