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 Taxation Law

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• $3,000 was set aside to pay for any future veterinary care of the two ferrets “Butch” and“Cassidy” which had belonged to David’s father, now deceased.• $2,000 was paid for Peter’s university fees, books and a new lap-top computer.• $1,500 was set aside to help pay for Oliver’s day care when he reaches 3 years of age.• $500 was used to pay James’ speeding fines.Required:Showing all workings:1. List any amounts for which there i ...

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