What's Your Reason For Writing Off A Debt As A Bad Debt

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Most of you do know that I have been working in a CPA firm as a tax personnel for quite a while. As a result, trying my best to claim deduction for certain expenses, which of my viewpoint may be deductible as the expenses are for trade purposes, but IRAS may not allow it, as they are of the viewpoint that the expenses are not part of the nature of the business.

Recently, a relatively new audit senior and new audit partner have left me stumped about how they treated a bad debt. They just treated the bad debt expense as an allowable expense, without consulting us what are the tax implications.

The audit senior had the cheek to say that the new audit partner had said that the debts that are not collected within the stipulated should be written off.

I was thinking if the new accounting standards are making life hard for us as tax personnel

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