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Note: Please compute based on Malaysia Tax requirements. 7. FaCai Sdn Bhd, a manufacturing company, incurred capital expenditure on the following assets in the year
Note: Please compute based on Malaysia Tax requirements.
7. FaCai Sdn Bhd, a manufacturing company, incurred capital expenditure on the following assets in the year ended 30 September 2019: RM RM New factory Construction Land cost Design and plan fees for building Legal fees & stamp duty (for purchase of land) Total cost of new factory 235,000 90,000 40,000 2,000 367,000 Production machinery (non-heavy machinery) Office equipment New computer system New motor car 195,000 18,000 85,000 125,000 Three assets had been acquired in previous years by the company. Two of these assets were disposed of during the year ended 30 September 2019. The relevant details of the three assets are as follows: Motor car (acquired second hand) Office equipment Lorry Cost Residual expenditure Disposal price RM RM RM 75,000 10,000 18,000 25,000 7,500 2,400 150,000 60,000 Still in use Required: Compute the capital allowances, balancing allowance(s) and/or balancing charge(s) for FaCai Sdn Bhd for the year of assessment 2019. (30 marks)Step by Step Solution
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