Podcast
Questions and Answers
What is the primary condition for a person to be eligible for capital allowance?
What is the primary condition for a person to be eligible for capital allowance?
- The person has a minimum turnover
- The person is a resident of the country
- The person is carrying on a business (correct)
- The person has a registered business name
What is the purpose of capital allowance?
What is the purpose of capital allowance?
- To punish non-compliant businesses
- To regulate business activities
- To impose additional taxes on businesses
- To provide concessions to businesses (correct)
What is the nature of capital allowance?
What is the nature of capital allowance?
- A concession given by the government (correct)
- A penalty for non-compliance
- A voluntary business decision
- A mandatory taxation requirement
Who benefits from capital allowance?
Who benefits from capital allowance?
What is the underlying principle of capital allowance?
What is the underlying principle of capital allowance?
What is the relationship between capital allowance and business?
What is the relationship between capital allowance and business?
What is the main requirement for a person to be eligible for capital allowance?
What is the main requirement for a person to be eligible for capital allowance?
What is the nature of the deductions provided by capital allowance?
What is the nature of the deductions provided by capital allowance?
What is the significance of capital allowance in the context of taxation?
What is the significance of capital allowance in the context of taxation?
Why are capital allowances granted to businesses?
Why are capital allowances granted to businesses?
Flashcards
Eligibility for Capital Allowance?
Eligibility for Capital Allowance?
Capital allowance is primarily for individuals actively running a business.
Purpose of Capital Allowance?
Purpose of Capital Allowance?
Capital allowance aims to give benefits to businesses through tax deductions.
Nature of Capital Allowance?
Nature of Capital Allowance?
Capital allowance serves as a concession, reducing tax liability.
Capital Allowance Beneficiaries?
Capital Allowance Beneficiaries?
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Capital Allowance Principle?
Capital Allowance Principle?
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Capital Allowance and Business?
Capital Allowance and Business?
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Significance of Capital Allowance?
Significance of Capital Allowance?
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Why Capital Allowances?
Why Capital Allowances?
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