10.7--SPECIFIC BUSINESS DEDUCTION UNDER (10.7.8—provision of library…
10.7--SPECIFIC BUSINESS DEDUCTION UNDER
SECTION 34 & 35
• 10.7.4--MINING ALLOWANCE (SECTION(6)(C))
on the heavy expenditure that must be sunk into a mining venture with very uncertain return
• The deduction is given against gross income
• The loss can be
against the aggregate income
10.7.5—REPLANTING EXPENDITURE (SECTION 34(6)(D)
• Business of farming and agriculture
• Expenditure incurred:
• The replanting of the farm for the purpose of the cultivation of crops
• The effecting of any improvement on the farm
• Any part of the farm in connection with such replanting
10.7.6—EQUIPENT FOR DISABLE EMPLOYEES(SECTION 34(6)(E)
• DISABLE PERSON=MEANS ANY INDIVIDUAL CERTIFIED IN WRITING BY THE DEPARTMENT OF SOCIAL WELFARE THAT THE PERSON IS DISABLE
• Supported by letter that said employee is disable,either mentally or physically
• Allows an employer to fully write off any equipment provided to the employee in the year the expenditure incurred
10.7.7--TRANSLATION AND NASIONAL LANGUAGE PUBLICATIONS (SECTION 34(6)(F)
• - Not necessary that the publication be related to the business of the person claiming the expenditure
Incurred by a person translation into @ publication:
Nasional Language of cultural
Scentific @ technical book
Approve by Dewan Bahasa & Pustaka
10.7.8—provision of library facilities (section 34(6)(g))
• Amount not exceeding
• expenditure incurred on the provision of library facilities
• contributions to publics libraries:
• 1) libraries of school
• 2) institutions of higher education
• Donation by the individual also
under sec 44(8)ITA
against the aggeregate income.
• Limit for
10.7.9--Community welfare (section 34(6)(h))
deduction is available
of the following expenditure;
• The provision of services,public amenities
• Contribution to a charity or community project.
• This expenses can be claim under sec 44(6)
• The taxpayer has a choice to claim under sec 44(6) or under this provision.
• The contribution can be made to schools, institutions of higher learning.
• Must be for the general public and items donated must be new and not second hand.
10.7.10—CHILDCARE CENTRE (SECTION 34(6)(I))
Allowed as a deduction
from business income.
• - Double deduction from year assessment 2013.
• - The childcare centre must be provided by an employer for the benefits of his own employees