Budget Rent A Car Ltd v Commissioner of Inland Revenue - [1995] 3 NZLR 90

Revenue — Income tax — Deduction — Bad debt — Timing — When bad debt deductible — Whether bad debt must be deducted during the year the debt becomes bad — Carrying forward of loss from bad debt to subsequent income year — Income Tax Act 1976, ss 106(1)(b) and 188(7).