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What would be the difference in capital allowances

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Reference no: EM133188863

Question - A company resident in Jamaica purchased the following assets in 2021:

Asset

Cost $

Honda Motor car purchased in March 2020

38,000

Heavy Equipment

50,000

Computer (CPU)

4,000

Factory Buildings

72,000

Required -

(a) What would be the difference in capital allowances for 2022 if this company were resident in Trinidad and Tobago instead of Jamaica for tax purposes.

(b) List two circumstances in which obtaining capital allowances on the reducing balance basis is more beneficial than on the straight-line basis.

Reference no: EM133188863

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