Yes, employment costs are incurred to earn assessable income (bearing in mind AL & LSL only when taken, not earlier when provided for, so timing diff between book and tax up to the point where leave taken). Remember though, that generally employment costs in other countries will be deducted from assessable income in that country, which can be different to 30%. And sorta goes without sayin', but.....most of MQG's NPAT is foreign sourced, hence lack of AU franking credits.
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