John Case Study - City Conv - Report Writing - Finance Assignment Help

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Assignment Task:

John owns a convenience shop called City Conv. The following events occurred for John during the 2019-2020 financial year. 

(i) John incurred legal expenses as he was sued for false advertising. 
(ii) John purchased new fridge to the shop - $800. In addition, his builder added more space to the shop front. This cost him $22,000. 
(iii) John ordered 1000 new T-shirts with printed City Conv’s logos for marketing purposes. These cost him $1,500. 
(iv) John received a City of Sydney fine for putting his sales item for display outside his shop without a permit. He required to apply for a permit to use the footpath. 

Required: 
With reference to relevant legislation and case law advise John on the assessability and/or deductibility of above events. (10 marks, maximum 300 words)


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