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“Renovation & Refurbishment is one of the most exciting tax deduction available in 2020/2021. We are looking at RM 300,000. That’s a big sum to claim 🥰. There are many many speculations on how liberal it would be?

No more guessing required. the gazette order has been published [PU(A) 381/2020] just before the new year. There is some bad news to this:

  1. Auditor need to certify;
  2. List of expenditure not allowed for deduction (eg. Design Fee ) – The list of item in Second Schedule of the gazette Order
  3. List of expenditure can be included for deduction (eg. surau, children play area, recreational area for staff) – listed in First Schedule of the gazette order.😁
painter, paint cans, brush

The gazette order is now available with all the details required. During last Budget 2021 seminar, Dr Choong reminded participants the best practice is to create a new account code specifically for this special tax deduction : ease claiming and identification. Also do remember his advice on the timing component. Happy tax deducting (the more the merrier) 😁

If you are new to this, you will find the course on Budget 2021 online learning very helpful for your tax planning. 

Gazette Order for Renovation & Refurnishment

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Renovation and Refurbishment

“Renovation & Refurnishment is one of the most exciting tax deduction available in 2020/2021. We are looking at RM 300,000. That’s a big sum to claim 🥰. No more guessing required. the gazette order has been published [PU(A) 381/2020] just before the new year. There is some bad news to this.

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