deduction - in the production of income Flashcards
(4 cards)
1
Q
Port Elizabeth Tramway
A
- What is the purpose of the expense?
- How closely connected is that expense to the production of income?
2
Q
Joffe and Co
A
If something is not an inevitable concomitant of the business operations it is not deductible.
3
Q
Provider
A
Expenditure incurred to induce the employees to enter and remain in the service of the taxpayer may quality as a deduction since the purpose is to produce current or future income.
4
Q
Mobile telephone networks holdings
A
Where there is a split between producing income versus exempt income apportionment has to take place
