Which of the Following Expenses Would Be Denied as a Deduction

question 9

Multiple Choice

Which of the following expenses would be denied as a deduction as per the provisions of the Canadian Income Tax Act?

• A) Legal and accounting fees incurred during the construction of a building.
• B) Work space in a home used as a taxpayer's principal place of business.
• C) Advertising costs in a non-Canadian newspaper directed at an American market.
• D) Maintenance fees on a yacht at Yellow Yacht Leasing Inc.

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Definitions:

Physiotherapist

A healthcare professional specialized in the treatment and rehabilitation of physical injuries and conditions through exercises, massage, and other therapeutic techniques.

Private Health Insurance

A type of health insurance where premiums are paid to private insurance companies, who in turn cover medical expenses partially or fully.

Methamphetamine

A highly addictive stimulant drug that affects the central nervous system, leading to severe physical and psychological effects.

Nineteenth Century

A century from January 1, 1801, to December 31, 1900, notable for rapid industrialization and significant social and political changes.