Page 28 - F6 - Special Deductions

S 24 – Allowances For Outstanding Debt

On Suspensive Sales (Credit Agreement)

 Agreement where

 Ownership of moveable /immovable property

transfers from taxpayer to other

 Upon/after receipt of the whole/certain portion

of amount payable ito agreement

Deemed
 Incl. in gross income amount payable ito accrual

agreement excl. VAT & Finance charges

S24 allowance only if:

 At least 25% of amount payable becomes due and

payable at least 12 months after date of agreement

 At commissioner's discretion