Commentary on Sections Overview Section 548: Section 543(1)(i) and (j): investments and loans
1649.This section provides interpretative material about the making of investments or loans. It is based on section 506(5) of ICTA.
1650.The section makes it clear that it is only the expenditure in the tax year on making new investments and loans, or expenditure to fund net increases in such investments or loans, that is included in the calculation of non-charitable expenditure.