Page 8 - TAX4862/2 APPLIED TAXATION
P. 8

GENERAL DEDUCTION FORMULA














                             Prerequisite                  Positive test                      Negative test










                      The carrying on of                 What is deductible                   What may not be
                             a trade                                                             deducted
                                                                 11(a)
                                                                                                    23(g)















                                                             Must be read together
                                                            PE Electric Tramway v CIR





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