ITX 03 – Advanced Taxation – DEDUCTIONS

Course Presenter: L. Rautenbach

Duration: 5 hours

Maximum Attendees: 20

Course Level: Advanced

Costs: (FCS Clients, NIPA, ICAN) Not presented in 2019

Costs: (all others) Not presented in 2019

Aimed at: Practising Accountants and Auditors; Audit managers; Senior Accountants; Senior Tax Compliance Officers.


The presentation is very technical and deals with a detailed analysis of the deductions available under the Income Tax Act, with reference to a host of decided Court Cases.

Specific areas addressed include:

  1. What exactly is the “general deduction formula”?
  2. When can a taxpayer be said to be “Carrying on a Trade”?
  3. The requirements of “Actually incurred” and “In the production of income” explained.
  4. Amounts specifically prohibited from deduction.
  5. Capital Expenditure – what can be claimed and what not.
  6. Why is repairs & maintenance expenditure classified as capital expenditure and when can it be claimed?
  7. Interest expenditure – when does it qualify for deduction and why may interest on a loan used to acquire shares / members interest usually not be deducted?
  8. Forex Gains & Losses – what may be claimed & when?

Various other deductions are discussed – this presentation may hold a few surprises even for seasoned tax consultants.