A Highlight of Key Areas:
- What is Plant and Equipment?
- Qualifying and Non-qualifying costs
- S19 – Writing off assets over their prescribed useful life
- S19A – Writing off over 1 year or three years
- Writing off Low Value Assets
- CA for assets on Hire Purchase
- Sale or scrap of capital assets
- S21 – Replacement of Fixed Assets
- S24 – Sale of Plant and Machinery to related companies
- Renovation and Refurbishment Costs (S14Q)
- Deferring Capital Allowances
- Various income treatment on unabsorbed Capital Allowances
- Land Intensification Allowances (LIA)
- Capital Allowances and Leases (Update on FRS 116)
- Latest updates from IRAS