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CAPITAL ALLOWANCE, DISPOSAL OF QE, Eg : Damage of asset, non suitability…
CAPITAL ALLOWANCE
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Computation
Small value asset
criteria
100% CA claimed shall not exceed RM20,000/YA
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value of each asset not exceed RM2,000
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company criteria
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the co
- does not (directly/indirectly) own more than 50% of shares
- paid up capital of more than RM2.5 mil at BOBP
- not (directly/indirectly) owned more than 50% by another co
- paid up capital of more than RM2.4mil at BOBP
- both co and other co has paid up capital more than RM2.5 mil at BOBP
- not directly/indirectly owned more than 50% by another co
HP assets
qualifying asset is acquired by person under HP scheme, person is deemed to be owner
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int portion of instalments paid not eligible for CA as it represents int expenses which will deductible from buss's GI by virtue S33(1)(a)
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DISPOSAL OF QE
DEFINITION
When P&M is sold, discarded, destroyed or ceased to be used for buss in BP of YA
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DISPOSAL VALUE
DV-RE=BC/BA
What is DV
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an asset disposed by way sale, transfer/assignment
whichever greater
MV at date of sale,transfer/assignment
Net proceeds of sale,transfer/assignment
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Eg : Damage of asset, non suitability for use in buss