Page 13 - TAX4862/2 APPLIED TAXATION

GENERAL DEDUCTION FORMULA

Pre-trade expenditure and losses

Section 11A

Expenditure must be otherwise deductible in

terms of the listed sections (may therefore not

be capital in nature)

11A may not result in an assessed loss

(taxable income limited to 0)

The unutilised deduction is carried forward to

the subsequent year.

Interpretation note 51

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