Income Tax Act, 1962 (Act No. 58 of 1962)

Notices

2006 Notices

Special Tax Measures relating to 2010 FIFA World Cup South Africa

Part V :  General provisions relating to taxes

11. Disallowance of deductions relating to amounts exempt from income tax
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(1)No deduction or allowance shall be allowed in respect of any expenses or costs incurred in respect of amounts which are in terms of this Schedule not subject to tax.

 

(2)If any cost or expense is incurred in respect of both amounts contemplated in subparagraph (1) and amounts which are subject to tax, that cost or expense must be allocated proportionately to those amounts for purposes of determining the deductible portion of that cost or expense.