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Summary General deductions

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All about general deductions

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  • April 14, 2024
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  • 2023/2024
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NB notes
General deductions Court cases summary
Carrying on a trade
Burgess: Trade does not include income in the form of passive interest, dividends, annuities or
pensions

Expenditure and losses
Joffe & Co: Voluntary payment (expense) vs involuntary deprivation (Losses)

Labat: Expenditure paid through issue of shares is not a deductible expenditure

Actually incurred
Not necessarily incurred

Nasionale Pers: Suspensive condition postpones incurral (If there is still a condition it can’t be
deducted)

Edgars stores: Must be an unconditional legal obligation

Labat: Expenditure paid through issue of shares is not a deductible expenditure

Incurred during current YOA
Sub-Nigel Ltd: no expenditures of a precious YOA can be deducted

REFER TO PREPAID EXPENDITURES

In the Production of Income
Port Elizabeth Electric tramway Co: Has to be a necessary concomitant

Nemojim: Only expenditure used to generate income (and not exempt income) may be deducted

MTN Holdings: Audit fees deductible if evident that auditor’s role was necessary

Provider: Amount paid to keep employee at workplace is deductible

Not of a capital nature
New state areas: Cost to perform the income earning operations (deductible) vs cost of establishing
income earning structure (Not deductible)

Rand Mines: acquisition of income earning structure – not deductible

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