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Calculate the capital allowance for the relevant year

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Reference no: EM133093586

Question - A reconditioned van costing RM75,000 was bought by Lala Bhd in 2016 for transporting the company's workers and it was licensed as a commercial vehicle. The reconditioned van had been overhauled with parts of high quality and it had undergone functional and safety tests until the van appeared 'new'. In 2018, the company sold the van to Kiki Bhd with price RM 14,500. Find the balancing adjustment for the year of assessment 2018. Question 6 Harith Sdn. Bhd. is a poultry company in Tanjung Karang with a financial year ended 31 December. The following are non-current assets brought throughout its operation.

a. Toyota Camry Date of purchase: 1 July 2019 Cash price: RM 145,000 Type of vehicle: Non-commercial (Director use) Annual allowance: 20% Dispose in February 2020 to earn more gain. Disposal price at RM135,000.

b. Machine Pallet Force Bought on 1 May 2019 at RM 15,800. Before the machine can be used, the site must be prepared. The cost of leveling the land is RM 900. The annual allowance is 14%.

Required -

a) Give difference between national allowance and annual allowance.

b) Calculate the capital allowance for the relevant year until year of assessment 2020.

Reference no: EM133093586

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