Page 34 - F6 Slide - Taxation - Lecture Day 2 Class
P. 34

General Deductions







          • Most deductions are deducted by virtue of the



               general deduction formula comprising:




          • 11(a) sets out what may be deducted(posetive


               test)




          • 23(g)sets out what may not be



               deducted(negative test)




          • For a deduction to be allowed the person



               must be carrying a trade.





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