Topic2 tax2

What is classified as an industrial building if it is used for the purpose of a business?

• Shopping mall

• Factory

• Residential building

• Office building

What is the rate of initial allowance for a building constructed and provided as living accommodation for employees?

• 50%

• 40%

• 30%

• 20%

When does the expenditure on the construction of a building incur?

• On the day of completion of the building

• On the day of obtaining approval for the plans

• On the day of starting the business

• On the day of purchasing the land

What is the rate of annual allowance for a constructed building before the year of assessment 2002?

• 4%

• 3%

• 2%

• 1%

What happens if the residual expenditure of an industrial building exceeds its disposal value?

• Balancing Charge is imposed

• Balancing Allowance is given

• Annual Allowance is increased

• No adjustment is made

What is considered as qualifying expenditure for industrial building allowance for One Sdn Bhd?

• Legal fee for the land acquisition

• Cost of preparing a site to install the plant

• Cost of plant

• Labour and transportation cost

What is the correct option for JSB Sdn Bhd's industrial building allowance?

• Cost of plant

• Cost of levelling the site and terracing

• Cost of preparing a site to install the plant

• Drainage and irrigation

What is the percentage of the building space used as an administrative office by One Sdn Bhd?

• 1/8

• 1/11

• 1/12

• 1/10

What is the correct option for the qualifying expenditure incurred by Megatrend Sdn. Bhd. in the year assessment 20XX?

• RM 100,000

• RM 50,000

• RM 170,000

• RM 220,000

What is the total cost of the extension built by JSB Sdn Bhd in November 2016?

• RM 450,000

• RM 70,000

• RM 570,000

• RM 320,000