Allowable Deduction – NBC Institute

PT – Aug 2022 – L2 – Q4a – Corporate Tax Liabilities

Discuss when an expenditure qualifies as a deductible expense under the Income Tax Act.

Question

For an expenditure to be an allowable deduction, there must be a direct connection between the expenditure and the business.
Required:
Discuss this statement in line with the provisions of the Income Tax Act, 2015 (Act 896).

Answer

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Tags: Allowable Deduction, Business Expenses, Income Tax Act, Tax law
Level: Level 2

Topic: Corporate Tax Liabilities
Series: AUG 2022

Question Tag: Allowable Deduction

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PT – Aug 2022 – L2 – Q4a – Corporate Tax Liabilities

Discuss when an expenditure qualifies as a deductible expense under the Income Tax Act.

PT – Aug 2022 – L2 – Q4a – Corporate Tax Liabilities

Discuss when an expenditure qualifies as a deductible expense under the Income Tax Act.

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Question Tag: Allowable Deduction

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PT – Aug 2022 – L2 – Q4a – Corporate Tax Liabilities

Discuss when an expenditure qualifies as a deductible expense under the Income Tax Act.

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PT – Aug 2022 – L2 – Q4a – Corporate Tax Liabilities

Discuss when an expenditure qualifies as a deductible expense under the Income Tax Act.

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