Taxable income for individuals, businesses
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 May 14 2013, 01:15 PM
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#1
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Newbie
3 posts Joined: Apr 2012 From: Damansara, Petaling Jaya 
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Hi all, I am hoping the tax sifus here can help with my tax situation:
I am running my own consulting business and I run the company from my own house. I recently purchased this house under a house hire purchase loan. My question is: 1. May I claim capital allowances for my house? 2. How do you compute the allowances? Many thanks in advance! |
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May 16 2013, 04:52 PM
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#2
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Newbie
3 posts Joined: Apr 2012 From: Damansara, Petaling Jaya
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QUOTE(WLMS @ May 14 2013, 09:25 PM) Hi, you cant claim capital allowance for the house. The reason being are as follows:- I see. Many thanks for the info, as it really helps to clarify the situation for me. I appreciate your offer for collaboration but I am certainly not big nor complex enough to outsource my tax. =)a) You can only claim for capital allowance on building when fulfil the following reason. http://www.treasury.gov.my/index.php?optio...mid=200&lang=en b) However, you can still claim your laptop, printer, and some plant and machinery which is incurred to generate your income. Your can refer to latest pwc booklet on page 20 in how to claim the capital allowance. Rmbr: you need to fulfil the followings: a) must be the OWNER of the plant and machinery, b) USED at the end of the year and c) MUST for business purpose. http://www.pwc.com/en_MY/my/assets/publica...b-2012-2013.pdf Between, I also running the my business (accounting and tax service for my client), do you think we have chance to work 2gather? Hehe...  |
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