Related Commentary  

45M(1)  Expenditure incurred by a person is not first-year qualifying expenditure under section 45K if it is within subsection (2), (4), (7) or (7A).

45M(2)  Expenditure is within this subsection if, at the time a claim is made under section 3 for a section 45K allowance in respect of the expenditure, the person who incurred the expenditure is, or forms part of, an undertaking within subsection (3).

45M(3)  An undertaking is within this subsection if one or both of the following conditions are met–

Need help? Get subscribed!

To subscribe to this content, simply call 0800 231 5199

We can create a package that’s catered to your individual needs.

Or book a demo to see this product in action.