05. Depreciation and Capital Allowances

Joshua Easton Tax

Capital expenditure incurred on a fixed or intangible asset will not be deductible under the general deduction provisions (section 8(1)).However, a tax deduction (usually over a number of years) may be allowed under the capital allowance rules.Most capital items decline in value over time and the tax law recognises that this decline in value represents a legitimate cost that is ...

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