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Title: Taxation General deductions court cases
Description: It is a break-down of all 5 requirements of general deduction court cases in a graphical way since it can be beneficial from 2nd year up until CTA from the Department of accountancy at University of Johannesburg by Mr Wessels.
Description: It is a break-down of all 5 requirements of general deduction court cases in a graphical way since it can be beneficial from 2nd year up until CTA from the Department of accountancy at University of Johannesburg by Mr Wessels.
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Joffe and Co:Losses are
possibly expenditure of an
involuntary nature
Port Elizabeth Electric
Tramway: Losses refer to
losses of floating capital
Nasionale Pers Bpk:If the
payment is contingent upon the
happening of uncertain future
event, the expense can only be
actually incurred once the
condition has been met
...
Golden Dumps: Where the
obligation to pay the amount is in
dispute, the expense can only be
actually incurred once the
dispute has been settled
Labat:Shares issued for
acquiring an asset=S40CA
determines the deemed
expenditure incurred amount
...
It cannot
be claimed in later
years
...
Rand Mines: Cost incurred
to create a capital
structure=capital
cost incurred to work on the
capital structure=revenue
BPSA:The legal
categorisation of a payment
does not determine if it is
capital or revenue but rather
the purpose of the
ecpenditure
...
BP Southern Africa:Recuring payments to
maintaining income earning operations are
deductible
...
Mobile Telephone Networks Holdings:
Apportionment will depend on the facts of
each case, a reasonable apportionment
approach will thus be followed
...
Scriba
nte
Constr
uction
Burg
ess
A wide interpretation
should be given to a
trade
Gener
al
Deduc
tions
Warner
Lambert
Negat
ive
Test
If there is a link between
the company’s ability to
trade and the expenditure,
it will be incurred for the
purpose of trade
...
Where goods are supplied within 6
months from year end
...
Liability imposed by legislation
...
Where aggregate of all remaining
prepayments
Title: Taxation General deductions court cases
Description: It is a break-down of all 5 requirements of general deduction court cases in a graphical way since it can be beneficial from 2nd year up until CTA from the Department of accountancy at University of Johannesburg by Mr Wessels.
Description: It is a break-down of all 5 requirements of general deduction court cases in a graphical way since it can be beneficial from 2nd year up until CTA from the Department of accountancy at University of Johannesburg by Mr Wessels.