Commentary

C2.215 Expenditure allowed in computing income or profits

Capital gains tax
Capital gains tax | Commentary

C2.215 Expenditure allowed in computing income or profits

Capital gains tax | Commentary

Restrictions on allowable expenditure

C2.215 Expenditure allowed in computing income or profits

Exclusion of expenditure allowed in the computation of trading income

There is a general exclusion from the sums allowable as a deduction in the computation of a chargeable gain any expenditure allowable as a deduction in computing the profits or losses of a trade, profession or vocation for the purposes of income tax or allowable as a deduction in computing any other income or profits or gains or losses for the purposes of the Income Tax Acts. The same exclusion applies to any expenditure which would be so allowable but for an insufficiency of income or profits or gains. This provision applies irrespective of whether effect is or would be given to the deduction in

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