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Leasing #, Non-leasing (HP + deemed sale) #, Regulation 2, Regulation 4,…
Tax treatment
Lessor
Gross inc
- lease rental taxed as s4(a)
- recd + receivable
- exp :check:ded
CA
- legal owner
- :check:claim CA
Lessee
-
Restriction on ded of lease rental for motor vehicle
- PC > RM150K, ded restricted to RM50K
- PC <= RM150K, ded restricted to RM100K
Non-leasing (HP + deemed sale) #
Tax treatment
Lessor
-
CA
- :red_cross:legal owner
- :red_cross:claim CA
-
Regulation 2
- leasing bs treated as separate bs source from non-leasing bs
- CA :red_cross:shelter inc from other bs
- unabsorbed CA c/f set off same source
Regulation 4
- lessee has option to purchase
- lessee given beneficial ownership
- lesse acq <MV
- special purpose asset
- :red_cross:other use
- moveable property
- integral part of bldg
- lesse has claim CA prior to the lease
- lessee has right to sell / dispose
Common exp
- apportion based on gross inc
-