An Analysis of the Term Actually Incurred in Section 11(a) of Income Tax Action
Act No. 58 of 1962
1.SYNOPSIS
Generally Accepted Accounting Practice includes statement AC000: Framework for
the preparation and presentation of financial statements. This sets out broad
and definitive rules governing the recognition of liabilities and income and
expenditure in financial statements. Specifically the following paragraphs need
to be considered:
Recognition of liabilities:
91. A liability is recognised in the balance sheet when it is probable
that an outflow of resources embodying economic benefits will
result from the settlement of a present obligation and the amount
at which the settlement will take place can be measured reliably...
Recognition of expenses:
94. Expenses are recognised in the income statement when a decrease in
future economic benefits related to a decrease in an asset or
an increase of a liability has arisen that can be measured
reliably. This means in effect that recognition of expenses
occurs simultaneously with the recognition of an increase
or a decrease in assets
95. Expenses are recognised in the income statement on the basis
of a direct association between the costs incurred and the and the
earning of specific items of income. This process, commonly
referred to as the matching of costs with revenues, involves the
simultaneous or combined recognition of revenues and expenses that
result directly and jointly from the same transaction or other
events;
The fisc takes little notice of these rules when it comes to the recognition of
expenditure for the purposes of taxation. It is the part of these rules that
govern the general deduction provision that this report will examine.
Section 11(a) of the South African Income Tax Act No. 58 of 1962 (as amended)
reads as follows:
11. General deductions allowed in the determination of taxable income.-
For the purpose of determining the taxable income derived by any
person from the carrying on of any trade within the Republic, there
shall be allowed as deductions from the income of such person so
derived-
(a) expenditure and losses actually incurred in the Republic in the
production of the income, provided such expenditure and losses
are not of a capital nature.
The section defines the conditions that must be met for expenditure and losses
to be allowed as deductions from income. The expenditure or losses must have
been: Actu
ssme
nt
In the Republic of South Africa.
In the production of the income.
Such expenditure or losses must not be of a capital nature.
The section has to be read together with s23(g)
23. Deductions not allowed in the determination of taxable income.-
No deductions shall be made in respect of any moneys, claimed
as a deduction from trade, to the extent to which such monies
On January 20, 1961, President John F. Kennedy made his inaugural address to the nation. He stood in front of the podium to convince citizens that he is the best person to turn the country around. He used experiences from the past, such as war, poverty, and the need for peace to get the attention of those who wish to see change within the country as well as countries we work with. Kennedy spoke in a way to to persuade the american people, as well as the soviet union to come together. In this speech President John F. Kennedy used ethos, pathos, and logos as well as other rhetorical devices to convince his audience.
President John F. Kennedy began his speech by renewing the morality of the United States. His goal was to invoke patriotic emotions that would
In the opening of his speech, Kennedy expressed that his presidential victory is a “celebration of freedom” with it – “symbolizing an end, as well as a beginning – signifying renewal, as well as change.” Throughout his address, Kennedy showed emotion in several lines. In these lines, he showed emotion when asking the world to spread freedom, justice, and to get rid of all the evils in the world. Also in his address, Kennedy asks Americans to stand up to the “long twilight struggle against the common enemies of man: tyranny, poverty, disease, and war.” As a promoter of world peace, President Kennedy clearly stated that the Soviet Union and United States were wasting time and money. Following his swearing in, he used allusion in his speech as he stated, “For I have sworn before you and Almighty God the same solemn oath our forebears prescribed nearly a century and three-quarters ago.” Kennedy implies to the country`s independence as an effort to create a great reputation for himself. He does this by alluding to a large moment of when America gained independence. The quote by Kennedy, “In the long history of the world, only a few generations have been granted the role of defending freedom in its hour of maximum danger. I do not shrink from this responsibility--I welcome it”, President Kennedy was displaying his devotion to stop the war. He wishes to start a new beginning of
John F. Kennedy’s central argument in his inaugural speech is that America needs to act. During this time the Cold War was occurring, causing both America and the Soviet Union to compete in an arms race to see who could make the most nuclear weapons. Kennedy states that America needs to fight for freedom while also negotiating peace with communist countries, especially the Soviet Union. Kennedy does not want a nuclear war to occur so he wants peace before another world war happens. Kennedy also talks about helping the poor people in other countries. In the end Kennedy urges American citizens to help out in any way they can. Even though Kennedy does use pathos and ethos more than logos, it is the combination of all three that make his argument
President John F. Kennedy gave his inaugural address to the American public on January 20, 1961. President Kennedy’s inaugural speech is designed to deliver a message of hope and perseverance against foreign threats, specifically the communist Soviet Union, against whom the United States was involved in the Cold War. In his speech, President Kennedy takes the global stage, capitalizing on the emergence of mass media and the ability to reach people on a worldwide scale to deliver a message meant to be heard both home and abroad. Kennedy’s inaugural address uses several different rhetorical devices—i.e., repetition, contrast/antithesis, and metaphorical imagery designed to produce pathos in the audience—to
The General Court. "General Laws." : CHAPTER 265, Section 37. 2014. Web. 20 Apr. 2014. .
Since the birth of the United States, the president has always had more responsibility than to just be a leader. He is to represent the people by being one of the people. The inaugural speech has always been a milestone for the country in terms of a first glimpse of what the future years might look like with the new leader. It is the first time that the new president can present to American people the plan they have in leading the country. The key to a successful inaugural speech is to have it be memorable and powerful, and John F. Kennedy's is noexception. Through the use of rhetoric, President Kennedy is able to clearly pave his plans plans for America
R v Secretary of State for Transport, ex parte Factortame Ltd and others [1999] All ER (D) 1173.
Kennedy, with America in mind, spoke to his fellow citizens in a captivating manner. The inaugural speech could have been terrifying due the difficulties of the Cold War; however, Americans left the location feeling at ease. He motivated everyone to do good deeds, give to the poor, and help the nation become better. The audience truly felt as if the speech was about the citizens, and for the citizens, rather than a speech about winning an election. America knew that JFK not only cared about the US, but would do everything in is power to see progress during his term. Citizens of the US had a true respect for their new leader. Kennedy told his country, “…united there is nothing this country can’t do .” His words, phrases, themes, gestures, and personality charmed
Kennedy's inaugural address was ground-breaking, downright world-changing. Signaling the beginning of the new age in America and its direction in external procedures, a more peaceful approach to the Cold War skirmish with the Soviet Union over the future of the world. He shared his interest and the significance of the global issues. Speaking at the height of the cold war, he sought to establish with the Soviet’s that America did not want a "hot war" but an honest cease-fire. Not a bloodbath, but consultations and collaboration, these were his actions to pursuing an attempt to end cold war pressures once and for
The inauguration of John F. Kennedy as the 35th president of the United States was held on Friday, January, 20, 1961. Kennedy’s inaugural address gave him a chance to introduce his approach for presidency. Kennedy became president during the Cold War. He used his inaugural address to explain the world during that point in American history, encouraged Americans to preserve democracy and freedom, and promote international support. John F. Kennedy’s audience not only included American citizens, but citizens around the world. Kennedy personally mentioned previous Presidents and Vice Presidents, Eisenhower, Nixon, and Truman. In 1960, Kennedy won the Democratic Party’s nomination for president. Millions watched the televised debates with the Republican
Kennedy was the 35th president of the United States of America. His inaugural address showed his stance on freedom, and he said some controversial statements that fazed many during that era. He was very committed to the idea of freedom for everyone no matter what race, religion, status, etc they were. Kennedy made an extreme sacrifice when he was unfortunately assassinated because many learned about him and his beliefs. His inaugural address states, “Ask not what America will do for you, but what together we can do for the freedom of man.” (Kennedy). Similarly, he was earnestly passionate about freedom for all and that any sacrifice no matter how extreme, would be necessary to achieve freedom. Consequently, he was adamant about preserving liberty, and he was faced with issues at a public level. Kennedy expressed his feelings about helping less fortunate countries even though some people opposed his beliefs. He said, “If a free society cannot help the many who are poor, it cannot save the few who are rich,” (Kennedy). Moreover, he stressed that Americans should be grateful that they lived in the U.S. Also, he was determined to preserve America’s freedom that was earned from hardships of the
to enforce the standards, without the standards the discipline is out the window and useless.
In conclusion I do not agree with the statement that Archbishop Tutu made in his speech (Stellenbosch University, August 2011) that the white people of South Africa should pay a special tax to acknowledge and to compensate for the benefits they enjoyed during the Apartheid era. As discussed above, it is unconstitutional to implement such a law as it is unfair discrimination on the grounds of race and colour. Therefore the wealth tax should not be imposed on the white population of our country. Instead, we should use transformative constitutionalism to make change in the country for the better and to step away from inequality and discrimination.
Language, books, newspapers, subtitles on the television and so much more are available to students at a very early age. Levels of engagement with literacy varies from each student’s home environment. It is also the parent’s responsibility to assist children with literacy skills at an early age, and that children learn on different levels. In addition, students that use of both traditional and twenty-first century strategies together may be an effective approach to improve literacy skills to students struggling in reading and