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Small Value Assets And Special Allowances Define under 19A(1) Schedule 3 of the ITA - asset is not more than RM2,000 but it does not include assets that have an expected life span of not more than 2 years. - The claim for special allowances for small value assets is restricted to a maximum amount of RM20,000 for each year of assessment.  Prior year tax treatment Options - Claim for special allowances (paragraphs 19A Schedule 3 of ITA) - Claim normal capital allowances (paragraphs 10 and 15, Schedule 3 of ITA) Special Allowances For Small And Medium Companies (19A(3) Schedule 3 of the ITA) - Small and medium companies (SME) where there is no restriction on the total amount of special allowances claimed on small value assets *Paid-up capital in respect of ordinary shares not exceeding RM2.5 million and *Has gross income from a source or sources consisting of business not exceeding fifty million ringgit (RM 50 million) for the basis period for that YA Steps to Claim Special ...

  I ncome From Letting Of Real Property Notes:- - Letting of real property (business sources) - 4(a) ITA 1967 - Letting of real property (non business sources) - 4(d) ITA 1967 Letting of real property (business sources) - 4(a) ITA 1967 - Deemed as a business sources and income received under 4(a) ITA if maintenance services or support services are comprehensive and actively provided.  Maintenance services or support services (comprehensively) should include:- Doing generally all things necessary:- (a) Interior: cleaning services, structural elements maintenance, water tanks, sewers, pipe and etc. (b) Exterior: playing fields, recreational areas, car parks, open spaces, landscape areas, security services As long as maintenance services or support services are comprehensively and actively provided in relation to the real property which is let out, the letting is a business source under paragraph 4(a) of the ITA even though the letting is between related parties. However, ...