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Qualifying expenditure (QE) QE for purposes of IBA is the cost of construction of buildings or structures which are used as industrial buildings or certain special buildings. In the case of a purchased building, the QE is the purchase price.
The objective of this Public Ruling (PR) is to explain –. tax treatment in relation to qualifying expenditure on plant and machinery for the purpose of claiming capital allowances; and. computation of capital allowances for expenditure on plant and machinery. Relevant Provisions of the Law.
Qualifying expenditure for private motor vehicles: We can simplify it by splitting it into 4 categories. Used motor vehicle which cost less than RM50,000 the qualifying expenditure is full amount. [View Example 1]
The qualifying expenditure (QE) or the total deduction for the lease payments may be restricted to a maximum of RM50,000, however, the maximum is raised to RM100,000 when both of the following conditions are satisfied: The motor vehicle has not been used by any person prior to purchase or rental (as the case may be)
1. Qualifying expenditure (“QE”) for motor vehicles. • Road tax, insurance and hire purchase interest do not qualify for capital allowance but are recurring expenses deductible under section 33(1) of the Income Tax Act 1967. • QE for motor vehicles includes the cost of basic accessories but not optional accessories.
In the case of motor vehicles, other than a motor vehicle licensed by the appropriate authority for commercial transportation of goods or passengers, the qualifying plant expenditure incurred shall be limited to a maximum of RM50,000 only.
INLAND REVENUE BOARD OF MALAYSIA. Public Ruling No. 5/2014 Date Of Publication: 27 June 2014. CONTENTS . Objective. Summary Of Changes. Relevant Provisions Of The Law. Interpretation. Application Of Relevant Law. Ownership Of The Asset. Jointly Owned Asset. Partnership Asset. Limited Liability Partnership Asset. Hire Purchase Asset. Leased Asset.
(2) In the case of a motor vehicle, other than a motor vehicle licensed or permitted, by the appropriate authority, for commercial transportation of goods or passengers, the qualifying plant expenditure incurred on or after the first day of the basis period for the year of assessment 1991 shall be limited to a maximum of fifty thousand ringgit:
Qualifying Expenditure 6.1 The interpretation of QE for each ITR varies according to the type of plant or machinery that qualifies for ACA. However, the interpretation of the QE generally applies to all ITR i.e. the capital expenditure which is incurred under paragraph 2, Schedule 3 of the ITA. For more information, please
Qualifying expenditure (QE) on plant and machinery includes the following expenditures: (a) Expenditure incurred in the provision of the asset consisting cost of plant
