n Tax Breaks Newsletter - Make sure your business expenses are tax deductible : income tax
|Article Title||Make sure your business expenses are tax deductible : income tax|
|© Publisher:||Moneyweb (Pty) Ltd|
|Journal||Tax Breaks Newsletter|
|Publication Date||Jul 2009|
|Pages||4 - 5|
A common bar to the deductibility of expenditure is the Income Tax Act requirement that the expenditure must be "in the production of income". For expenditure to be considered "in the production of income", it must be expended for the purpose of producing an income that is taxable and not exempt.
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