Part 5Miscellaneous income
Chapter 3Films and sound recordings: non-trade businesses
612Calculation of income
1
This section applies for calculating the amount of income charged under this Chapter.
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
Any relief given as a result of section 613 is additional to the relief under this section.