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Compute the qualifying building expenditure

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Question - Wangsa Jaya carries on the business of manufacturing safety belts. The company prepares its accounts to 31 December annually.

In September 2019, it completed the construction of its own factory:

RM'000

Land cost 580

Legal fees:

- Agreement for purchase of land 11

- Agreement with the building contractor 10

Consultant's fees and building plan 80

Stamp duty for purchase of land 9

Construction cost 1,510

Total Costs 2,200

Required -

a. Compute the qualifying building expenditure.

b. Compute the industrial building allowance available to the company.

Reference no: EM133006712

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