BAC 3644

SECTION:
STUDENT NAME/ID:
1
2
3
4
5

BUSINESS EXPENSES (CHAPTER 14)

NO.

DEDUCTIBLE EXPENSES (SECTION 33)

1

4
 5

EXPENSES SPECIFICALLY DISALLOWED BY THE ACT (SECTION 39)

4
 5

SPECIFIC DEDUCTION (s 34(6))

7
 8

10

11

12

13

14

GAZETTE ORDER

10

OTHERS

2
3

9
ENT NAME/ID:

INESS EXPENSES (CHAPTER 14)

TYPE OF EXPENSE

UCTIBLE EXPENSES (SECTION 33)

Interest expense

Rent

Repairs and renewal

Bad and doubtful debts

 Employer's contribution to approved schemes

Legal and professional expenses

Advances to employees

Defalcation by employees/ directors

Keyman insurance

ENSES SPECIFICALLY DISALLOWED BY THE ACT (SECTION 39)

Domestic or private expenses

Disbursement or expenses not 'wholly and exclusively'

Withdrawal of capital

Payment to an unapproved scheme

 Withholding tax

Payment for license to extract timber

Lease rental

Entertainment expenses

Leave passage

IFIC DEDUCTION (s 34(6))

Payroll and turnover tax

Mining expenditure

Replanting expenditure

Provision of equipment and renovation of building for disabled person

Translation/ publication of book

Provision for library facilities

Social responsibility payment

 Child care centre

Musical and cultural group

Arts and cultural activity

Scholarship expense

Halal certification

Practical training

International standardization activity

ETTE ORDER

Information technology related expenditure

Personal computer and broadband services

Gofts of personal computer to employees

Statutory audit fees

Cost of developing website

Acquisition of foreign owned companies

Incorporation expenses

Unemployed graduate allowances

Chain of custody certification

Recruitment of employee

Retrenchment payment

Annual general meeting expenses

Guarantee and commitment fees

Bank commission, guarantee fee

Unsatisfactory employee

Cultural or arts show

Cost of issuance of Islamic securities

Employee benefits

Patent and trademark registration

 RELATED ACT EXPLANATION

s33(1)(a)
on money borrowed 1) the loan is employed in the production
of gross income
2) the loan is laid out on asset used or held
in that period for the production of
business income.
s33(1) 1) not governed under s33 (1) (a) of the Act
on debt 2) depend on the "wholly and exclusively"
3) not prohibited by s39 of the Act

s33(1)(b) 1) payable for occupying the land or building

(immovable properties)
2) used in relation to the period
3) incurred for the purposes of producing
gross income of that source

s 33(1) © 1) expenses incurred during that period for

the repair premises, plant, machinery or
fixtures employed in the production
of gross income
2) expense incurred for the renewal, repair
or alteration of any implement, utensil or
article so employed
3) the Act does not define "repair" and
"improvement".

s 34 (2) 1) specific debtors are identified

 2) the debt are partly or wholly irrecoverable
3) such debts had been reasonably estimated
trading a) own business (deductible)
b) taken over ( not deductible)
advances
to be bad