Part 5Miscellaneous income
Chapter 2Receipts from intellectual property
Charge to tax on non-trading income from intellectual property
582Deductions in calculating certain income charged under section 579
1
This section applies for calculating the amount of income charged under section 579 other than annual payments.
2
Expenses wholly and exclusively incurred for the purpose of generating the income are deductible.
3
If an expense is incurred for more than one purpose, a deduction may be made for any identifiable part or identifiable proportion of the expense which is incurred wholly and exclusively for the purpose of generating the income.
4
Expenses which would not have been allowable as a deduction in calculating the profits of a trade, if they had been incurred for its purposes, are not deductible under this section.
5
Expenses for which any kind of relief is given under any other provision of the Income Tax Acts are not deductible under this section.
6
The relief given under section 600 (relief for expenses: patent income) is additional to the relief under this section.
7
The frequency with which payments are made is ignored in determining whether they are annual payments for the purposes of subsection (1).