Concerns that the Fed will have to wrestle with elevated inflation for a long time slowed this week’s rally
In energy matters, the government appears enslaved by ‘first world’ norms and standards
The accused were arrested as part of a Hawks operation to nab alleged instigators who incited public violence during looting and destruction in 2021
Nedbank failed to comply with certain provisions the Financial Intelligence Centre Act
Mudiwa Gavaza is joined by Larry Masson, a financial adviser and franchise principal at Consult by Momentum.
Parent company London-listed Pearson Plc said the disposal was part of a strategic review.
US attorney-general Merrick Garland has asked a judge to unseal the search warrant for Trump’s home
Top swimmers have a rivalry that could develop into one of SA sport’s greatestt
Rushdie’s condition is not immediately known
In the recently published draft Taxation Laws Amendment Bill, the Treasury has made it clear that it will be joining efforts to ensure proper governance of public entities as it proposes that no income tax deduction will be allowed for fruitless and wasteful expenditure.
Fruitless and wasteful expenditure is defined in the Public Finance Management Act (PFMA) as expenditure that was made in vain and would have been avoided had reasonable care been exercised. Examples include interest and penalties on overdue accounts‚ litigation and claims, cancellation fees for accommodation and ineffective implementation of hardware.
Section 11(a) of the Income Tax Act, colloquially referred to as the general deduction formula, makes provision for the deduction of expenditure actually incurred in the production of income, provided that such expenditure is not of a capital nature. Conversely, Section 23 of the Income Tax Act disallows certain expenditure, even when it meets all the requirements of ...
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