Hello accountant Ozbargainers,
Here is a question for sole traders paying tax return with a payment plan. Is the credit card fee associated with paying the lump sum and installments tax deductible? Seeing that GIC is also tax deductible.
And if so, if we bought coles MC GC for 10% off with activation fees, and use that GC to pay down the payment plan, would the activation fee be tax deductible as well?
TIA.
no