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GENERAL DEDUCTION FORMULA
Class Question
DEF (Pty) Ltd has a 31 December 2015 year-end.
The company received an invoice on 10 Dec 2015 for
R228 000 (VAT incl) in respect of consultation services
rendered to the company.
The company's 2015 tax return was filed on 1 March
2016 and a final tax assessment was issued on the
same date. The company's accountant never recorded
the invoice and the deduction was therefore not claimed
in the 2015 year of assessment.
The invoice was paid on 1 May 2016.
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