- 10 Marks
AT – May 2017 – L3 – Q5a – Business income – Corporate income tax
Submit a paper explaining the tax provisions on repairs and improvements and the conditions under which capital allowance may be granted.
Question
a) You have recently been employed to join Kwame Adom Consult as a tax professional. Your partner has tasked you to present a paper on the circumstances under which “Repairs and Improvement” under Act 896 (Act 2015) are capitalised and capital allowance granted.
Required:
Submit a seasoned paper on the tax provision on “Repairs and Improvement” and the conditions under which capital allowance may be granted.
(10 marks)
Find Related Questions by Tags, levels, etc.
- Tags: Capital Allowance, Depreciable assets, Improvements, Repairs, Tax deduction, Tax provisions
- Level: Level 3
- Topic: Business income - Corporate income tax
- Series: MAY 2017
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