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Tax updates: Capital Allowance

4/2/2019

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Qualifying Expenditure (QE) for a vehicle that is not licensed for transportation of goods or passengers is as below:
  • RM100,000 for car costing below RM150,000. (Vehicle must be new); and
  • RM50,000 for car costing above RM150,000
Commercial vehicles such as lorry or van are given full capital allowances. 

Small value assets is an assets which :
  • Cost of assets not more than RM1,300; and
  • Not include assets that have an expected life span of not more than 2 years.
 The capital allowances for small value assets is restricted to a maximum amount of RM13,000 for each year of assessment 

​Types and rate of capital allowance are as follows :
Types of allowance
Types of assets
Rates (%)
Initial allowance
All types of assets
20
Annual allowance
Motor vehicles and heavy machinery
20
Annual allowance
Plant and machinery
14
Annual allowance
​Office Equipment, Furniture and Fittings
10
Annual allowance
Computer
40
Special allowance
Small value assets
80
If you need further clarification or information, please us.
 
 
Source:
  • http://www.hasil.gov.my/bt_goindex.php?bt_kump=5&bt_skum=1&bt_posi=2&bt_unit=5000&bt_sequ=12&bt_lgv=2
  • Public Ruling No. 10/2014 - Special Allowances for Small Value Assets
  • Public Ruling No. 12/2014 - Qualifying Plant and Machinery for claiming Capital Allowances
  • Public Ruling No. 6/2015 - Qualifying Expenditure and Computation of Capital Allowances
  • Public Ruling No. 7/2018 -  Accelerated Capital Allowance
  • Photo : pexels
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