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Which of the following is a deductible expense for a sole trader business?

a. Provision for bad debts

b. CPF statutory contributions to part time staff [VP1] staff not staffs [DWWN2]amended

c. Exchange loss incurred for loan granted to an overseas employee

d. Display of signboard at entrance of shop building

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Answer

Correct asnwer is d.Display of signboard at entrance of shop building

Display of signboard at entrance of shop building is a business expense incurred for advertisement of business and is thus a deductible expense

Provision for baddebts is not a recognised loss and just a provision so not allowed as a deductible expense.

Similarly exchange loss incurred is not allowable as deductible expense as it is not a business expense.

CPF Contributions made to part time staff are not allowable expense

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