Page 44 - TAX4862/2 APPLIED TAXATION

GENERAL DEDUCTION FORMULA

Other Prohibited Deductions

 Private maintenance expenses (s 23(a))

 Domestic of private expenses (s 23(b))

 Recoverable expenses (s 23(c))

 Interest, penalties and taxes (s 23(d ))

 Provisions and reserves (s 23(e))

 Expenditure to produce exempt income (s 23(f ))
 Non-trade expenses (s 23(g))

 Notional interest (s 23(h))

 Deductions already claimed against lump sums (s 23(i ))

 Labour brokers and personal service providers (s23(k))

 Restraint of trade (s23(l ))

 Expenditure related to employment or holding of an office (s 23(m))
 Unlawful activities (s 23(o))

 Production of foreign dividends (s23(q))

 Policies (23(p) and (r)

44