What is the test for deductible expenses in the context of business tax?
Canada (Federal), Canada
The following excerpt is from Nieboer v. The Queen, 2000 CanLII 312 (TCC):
Thus, to be deductible, an expenditure must satisfy two tests: (1) it must be incurred for the purpose of gaining or producing income from a business or property; (2) it must be a current, rather than a capital, expense. Capital v. Current Expenses
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