Course Description

Synopsis:

This course provides a comprehensive overview of capital allowances available for businesses that have invested in qualifying non-current assets, specifically plant and machinery (P&M). Participants will explore the various types of P&M that qualify for capital allowances, understand the methods used to calculate these allowances, and learn the know-how to optimize capital allowance claims.

This course will cover the following: -

• Identify Qualifying Assets: Gain a clear understanding of the types of non-current assets classified as plant and machinery that are eligible for capital allowances and the qualifying cost for capital allowance claims
• Explore Capital Allowance Methods: Learn about different methods for claiming capital allowances under the Singapore Income Tax Act (SITA).
• Understand Hire Purchase Implications: Examine the implications of hire purchase agreements on capital allowance claims.
• Balancing Adjustments: Understand the tax implications of disposing of P&M, including the calculation of balancing adjustments and the resulting tax treatment.
• Optimizing Capital Allowance Claims:
  • Learn strategies for optimizing capital allowance claims.
  • Understand the tax considerations involved in replacing P&M.
  • Explore the tax implications of selling P&M to related parties.

By the end of this course, participants will be equipped with the knowledge and skills necessary to optimize their capital allowance claims and enhance their overall tax strategy related to plant and machinery investments.

Intended For:

• Finance Professionals / PAIB
• Business Owners

Competency Mapping: 

• CPE Category "Others" = 1.0 CPE Hour