A company in the manufacturing sector prepares its account to 31.12 annually. In July 2020, the company completed the construction of its own factory as follows: Land-RM580.000 Legal fees for an agreement to purchase land- RM11.000 Legal fees for an agreement with the building contractor - RM10,000 Consultant's fees and building plan RM80,000 Stamp duty for the purchase of land - RM9.000 Construction cost RM1.510,000 Required: Calculate the qualifying building expenditure.

A company in the manufacturing sector prepares its account to 31.12 annually. In July 2020, the company completed the construction of its own factory as follows: Land-RM580.000 Legal fees for an agreement to purchase land- RM11.000 Legal fees for an agreement with the building contractor - RM10,000 Consultant's fees and building plan RM80,000 Stamp duty for the purchase of land - RM9.000 Construction cost RM1.510,000 Required: Calculate the qualifying building expenditure.

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter5: Introduction To Business Expenses

Section: Chapter Questions

Problem 63P

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