1887

n Tax Breaks Newsletter - Deductions must be intended to produce taxable income : tax deductions

USD

 

Abstract

Section 11(a) of the Income Tax Act, the so-called "general deduction formula", seems to have produced more court cases than virtually any other section of the Act. And each time, the courts tell us the same thing: In order for you to successfully claim an expense as a deduction for income tax purposes, there must have been a clear intention for this expense to have resulted in you earning taxable income from this expense.

Loading

Article metrics loading...

/content/montb/2015/349/EJC165503
2015-02-01
2016-12-08
This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error