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General deductions - Coggle Diagram
General deductions
In production of income
Port Elizabeth Electric Tramway🚋 - The expense or loss must be closely linked to the business acts that produce income.
Joffe and Co🏗️💥 - If something is not an inevitable concomitant of the business
operations it is not deductible.
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Mobile Telehone Networks Holdings (Pty) Ltd📱📡 - If an expense serves a dual purpose, you cannot claim 100% of it.
Not of capital nature
Rand mines⛏️🔗 - Expenditure incurred to obtain an income earning right or
structure will be capital in nature
Bp South Africa⛽®📅 - the purpose of the expenditure determine whether it is revenue in nature or not.
New states Areas Ltd🌱💰 - Cost of performing income-earning operations (floating capital)
which is revenue in nature and therefore deductible
Actually incurred
Nasionale Pers
Bpk-📰✍️✅
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future event, the expense and corresponding liability can only
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Edgars Stores🛍️⏳ - An expense can only be deducted once there is an unconditional legal obligation to pay the expense
Golden dumps (Pty) Ltd🏔️💰 - An amount can only be actually incurred when there is no unsettled dispute
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