IT364- Commencement of Business Operations
NO: IT-364 DATE: March 14, 1977 SUBJECT: INCOME TAX ACT Commencement of Business Operations REFERENCE: Paragraph 18(1)(a) (also paragraphs 18(1)(b) and 14(5)(b)) 1. For an amount to be deducted on the grounds that it was an expense incurred for the purpose of gaining or producing income from a business, the taxpayer must have been carrying on […]