Steinberg Inc

Wear-and-tear allowance

Capital expenditure incurred in the production of income and in carrying on of a trade does not qualify for a deduction under the so-called general deduction formula in section 11(a) of the Income Tax Act No 58 of 1962 (the Act). The Act does, however, grant deductions or allowances for specific types of capital expenditure […]

We use cookies to improve your experience on our website. By continuing to browse, you agree to our use of cookies
X