Section 29

(1)

Where, for any year of assessment, there are any unabsorbed allowances or losses in respect of the qualifying income of a post pioneer company, and there is any chargeable normal income of the company, those unabsorbed allowances and losses shall be deducted against the chargeable normal income in accordance with the following provisipns

{a}

in the case where those unabsorbed allowances or losses do not exceed that chargeable normal income multiplied by the adjustment factor, that chargeable normal income shall be reduced by an amount arrived at by dividing those unabsorbed allowances or losses by the adjustment factor, and those unabsorbed allowances or losses shall be nil; and

(b)

in any other case, those unabsorbed allowances or losses shall be reduced by an amount arrived at by multiplying that chargeable 1322

Report

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Part VI

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Part VII

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Part VIII

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Part IX

International Trade Incentives

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Part X

Foreign Loans for Productive Equipment

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Part XI

Investment Allowances

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Part XII

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Part XIII

Investments in New Technology Companies

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Part XIV

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Part XV

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