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TAXATION LAWS AMENDMENT ACT (No. 3) 1992No. 98, 1992 - SECT 25
Bad debts etc. of a company may be allowable deductions where company carries on same business
25. Section 63C of the Principal Act is amended by adding at the end the
following subsections:
"(3) Where a part of a debt is written off by a company as bad, the preceding
provisions of this section apply as if the part were an entire debt that is
written off by the company as bad.
"(4) This section has the same effect in relation to an allowable deduction
under section 63E in respect of the whole or part of a debt that is
extinguished as it has in relation to an allowable deduction under section 51
or 63 in respect of the whole or part of a debt that is written off as bad.".
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