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IHC, split divd & distribution - treated as separate source, int exp -…
IHC
Unlisted IHC
-
- s4(c)
- s4(d)
- Rental
- even if maintenance & support comprehensively & actively provided
- s4(f)
PE
- directors' fee
- wages, salaries, allowances
- mgt fees
- secretarial, audit, accounting fees, telephone charges, printing, stationery costs, postage (exclude travelling)
- rent, other exp incidental to maintenance of office
special ded to arrive total inc
A = PE
B = gross inc from chargeable DIR
C = B + exempt divd + exempt int + gain on realisation of invst
Listed IHC
- :red_cross:non-bs source
- each source of inc assessed separately bs source
- s4(a)
- Divd
- Int
- Rental
- Mgt fee + other inc
DIR = deemed bs inc
Mgt fee = active source
Treatment of exp for divd, int, rental inc
- :red_cross:inc, :red_cross:ded
- direct exp + common exp > gross inc
- restricted to gross inc
- excess disregarded, :red_cross:c/f
Treatment of CA for divd, int, rental inc
Special treatment for mgt fee
- allowable exp + common exp > gross inc
- CYBL
- excess loss c/f, set off ASIB
- excess CA c/f, set off against mgt fee
- main actv: holding of invst, &
- :red_cross:<80% of co's gross inc derived from holding of invst
-
Temporary cessation as an IHC
- non-IHC
- gross inc, s4(a) rental decrease due to temporary cessation of tenancy:
- repair / renovation
- absence of tenant for 2 yrs
- legal injunction
- circumstance beyond ctrl
deemed as non-IHC, although inc >= 80% of the gross inc
Continuance as an IHC
- determined to be IHC, deemed to be IHC in subsequent YA
- if able to prove, :red_cross:IHC
-
-
Int exp
- direct exp
- apportion based on cost of invst