(o)     any expenditure incurred –

(i)      where the payment of that expenditure or the agreement or offer to make that payment constitutes an activity contemplated in Chapter 2 of the Prevention and Combating of Corrupt Activities Act. 2004 (Act No. 12 of 2004);

[Subparagraph (i) amended by section 39 of Act 23 of 2018 effective on 1 April 2019, applies in respect of years of assessment commencing on or after that date]

(ii)     which constitutes a fine charged or penalty imposed as a result of an unlawful activity carried out in the Republic or in any other country if that activity would be unlawful had it been carried out in the Republic; or

[Subparagraph (ii) amended by section 39 of Act 23 of 2018 effective on 1 April 2019 and applies in respect of years of assessment commencing on or after that date]

(iii)     which constitutes fruitless and wasteful expenditure as defined in section 1 of the Public Finance Management Act and determined in accordance with that Act;

[Subparagraph (iii) added by section 39(1) of Act 23 of 2018 and substituted by section 11 of Act 20 of 2022]

[Paragraph (o) added by section 28(1)(e) of Act 31 of 2005 and amended by section 47(1)(a) of Act 24 of 2011 effective on 1 March, 2012 and applicable in respect of policies ceded on or after that date]