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Pls Help, MCQ, ACC307: Taxation of companies and partnership Questions Underline the Answer Legal fees incurred to set up overseas representative office. Capital Revenue Stamp
Pls Help, MCQ, ACC307: Taxation of companies and partnership
Questions | Underline the Answer |
Legal fees incurred to set up overseas representative office. | Capital |
Revenue | |
Stamp duty incurred on renewal of staff accommodation for foreign workers. | Capital |
Revenue | |
Running expenses incurred on motor cars owned by Singapore employees' and which are used for business purposes. | Deductible |
Not deductible | |
Running expenses incurred on employee-owned motor cars used exclusively in Country X for business purposes. | Deductible |
Not deductible | |
Purchase of non-slip tiles to replace existing regular tiles | Repairs |
Inprovements | |
Purchase of tiles to replace existing tiles that are cracked or chipped | Repairs |
Improvements | |
Expenses of $24,000 incurred on approved trade fair @ $8,000/pax and government grant of $3,000 received @$1,000/pax. How much of the expenditure of $24,000 is deductible? | $16,000 |
$24,000 | |
Is the government grant of $3,000 taxable? | Yes |
No | |
What is the amount qualifying for further deduction? | $24,000 |
$16,000 | |
$14,000 | |
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