Commentary

D7.565 Relief for acquisition expenses

Corporate tax
Corporate tax | Commentary

D7.565 Relief for acquisition expenses

Corporate tax | Commentary

D7.565 Relief for acquisition expenses

The rules in this division apply for accounting periods beginning before 1 January 2013. For accounting periods beginning on or after 1 January 2013 see Division D7.4.

Relief for acquisition expenses incurred in an accounting period is given in seven equal instalments in that and the ensuing six accounting periods1. Step 6 of ICTA 1988, s 76(7) gives effect to the spreading by deducting six sevenths of the adjusted amount of acquisition expenses from the total management expenses due, leaving one seventh available for relief. In this context the 'adjusted amount of acquisition expenses' means

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