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Essay Details:
Essay text:
Thus, the taxpayer's intention and motive for incurring the expenditure must be considered.
Often, most expenditure are dual purposes. Although in principle, dual-purpose expenditure would fail the "wholly and exclusively" test, the Comptroller may apply rules of apportionment.
"Incurred"
Using the cases of New Zealand Flax Investments Ltd v FCT (1938) 61 CLR 179 and CIR (Hong Kong) v Lo & Lo (1984) WLR 986, an expense is "incurred" as long as there is a liability to pay and such expense is deductible, taking into account that this does not necessarily mean that the expense has been paid.
"During that period"
Expenses incurred before the commencement of business, or after the termination of the business are not deductible, because they are incurred before or after the production of the income respectively, and not in the production of the income...
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