Deduction for business premises expenses: permitted items include insurance, local taxes, rent and repairs with apportionment rules.

Provides allowable deductions for expenses on premises, machinery, plant or furniture wholly and exclusively used for business or profession, including insurance premiums, land revenue and municipal taxes, rent for tenants, and non-capital current repairs. Where use is partial or not wholly exclusive to the business, deductions are limited to the fair proportionate part as determined by the Assessing Officer having regard to actual business usage.

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