So I bought an office unit, and am planning to rent it back to the company I own (I am the sole director). Spoke to my accountant and she said as long as the rental is market rate then everything’s good. Got the tenancy agreement done and stamped… kinda weird though because both signatories were mine.
My question is–I am planning to renovate the place, and so the cost will be company expenses, right? Are there any guidelines about this, i.e. how much is deemed excessive, etc? Any other watchouts to look out for? I understand that these kind of self-dealing arrangements can get extra attention from LHDN, and I want to do everything by the book.
Thank you!
Renting to my own company, Question for lawyers!