Page 14 - F6 Slide - Taxation - Lecture Day 2

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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