Tax 101 Series - Tax Depreciation (Capital Allowances), Section 19

The Impact of Depreciation on Taxes - Section 19: Who Can Claim?

Capital allowances are deductions companies can claim for wear and tear of qualifying fixed assets (plant and machinery) bought and used in their trade or business. Therefore, they may claim capital allowances on expenditure incurred on the provision of "plant and machinery" for use in its trade or business. For this purpose, the session extensively discusses what a "plant" is concerning capital allowances.

An understanding of your tax depreciation will allow you to manage your tax risk confidently. This session is a mix of practical experience and academic knowledge.

• Singapore tax system
• What is plant? Applying the “two-fold test”
• Business use or functional test
• Business premise or setting test
• Exploratory case study - IH v Comptroller of Income Tax (2010)
• Q&A