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Question 1 a . State the four conditions that must be fulfilled for a person to be eligible to claim capital allowances.b . T Sdn
Question a State the four conditions that must be fulfilled for a person to be eligible to claim capital allowances.b T Sdn Bhd a company manufacturing boxes, acquired the following assets during the financial yearended June Printing machine:Cost of machine RMCost of alteration to the existing building for the installation of the machine RM an incidental costs of installation, RMFolding machine:Cost of machineDeposit paid on August Hire purchase amountHire purchase interest included in aboveTerm of repaymentThe first instalment of RM commenced September Cutting machine:Capital expenditure incurred on the cost of machine, RM and cost of preparing the site for the installation of the machine RMAll three machines were in use for the purposes of the business at the end of the financial year ended June Required:i Compute the capital allowances in respect of the printing machine and the folding machine forthe year of assessment ii State the reason the amount of the qualifying plant expenditure in respect of the cuttingmachine
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