No. 21. Income Tax. 1967.


 "incurred during the basic year" means the
 total of the expenditure incurred in the
 years up to and including such basic year;
 (b) "written down value" means the remainder
 of the capital expenditure after deducting
 therefrom any initial deductions and all
 annual deductions.

 Deductions not 10. For the purpose of computing the chargeable in-
 to be allowed, come of any person no deduction shall be allowed in respect
 of:

 (a) domestic or private expenses including inter
 alia-

 (i) the cost of travelling between residence
 and place of business;
 (ii) the rent of any dwelling house or dom-
 estic ..,.. -, or any part thereof as is not
 used in connection with the carrying on
 by him of his trade, business, profession
 or vocation;
 (iii) any remuneration, or interest on capital,
 paid or credited to himself;
 (iv) the cost price of any goods taken out
 of the business for the use of the pro-
 prietor or any partner or their families;

 (b) any disbursements or expenses not being
 money wholly and exclusively laid out or
 expended for the purpose of acquiring the
 income;
 (c) any capital withdrawn or any sum employed
 or intended to be employed as capital;
 (d) any capital -. .,-.1 in improvements;
 (e) any sum recoverable under an insurance or
 contract of indemnity;
 (f) rent of or cost of repairs to any premises or
 part of premises not paid or incurred for
 the purpose of producing the income;
 (g) any amounts paid or payable for income tax
 or surtax either within the Colony or in res-