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Income/Expense Sales Subcomponent Nature Trade Capital Trade, Revenue Trade, Revenue Trade, Revenue Non trade Treatment Taxable Non deductible Deductible Deductible Deductible Exempt Action No change Add back No change No change No change Deduct
Depreciation expenses (equipment) Raw material costs Cost of sales (Note 1) Rental of factory premises Salaries and CPF One-tier dividend Interest on loan stock ($1,000 was received every quarter since January 2009) Bad debts recovered Other income (Note 2) (included in the above is an amount of $30,000 recovered from the trade debtor of a company that was acquired by BSPL one year ago) Advertising: Media fees Advertising: Legal fees for drawing up new sales distributor agreements Selling expenses (Note 3) Delivery van expenses Depreciation expenses (vehicles) Entertainment Traffic fines CPF late payment interest Finance expenses (Note 4) Hire purchase
Trade, Revenue
Deductible
No change
interest on vans Bank overdraft interest: To provide liquidity Bank overdraft interest: To pay dividends Bank overdraft interest: To pay overdue taxes and penalties Legal and professional fees: Debt collection Legal and professional fees: Drafting of new agreement Salaries and CPF Subscriptions Directors fees: Accrued Directors fees: Provision for retiring director Staff welfare Payment to competitor in return for not competing in a similar business for a period of ten years Cash donations to IPC on 2/12/2008 Karaoke set donations to IPC on 14/2/2009 Cheque donations to IPC on 17/5/2009
Trade
Deductible
No change
Trade, Revenue
Deductible
Capital
Non deductible
Add back
Miscellaneous expenses
Non trade
Deductible
Add back then deduct 2.5 times Add back Add back then deduct 2.5 times
Non trade
Non deductible
Non trade
Deductible
Date of purchase
CA
related legal expenses Overdraft interest on loan to buy land Construction cost of factory building Architects fee for construction Staff canteen Staff quarters Staff clubhouse Office Fencing Landscaping Three mobile phones of different brands for management staff Electrical installation General lighting Painting the walls of the office Fixed partitions Floorings False ceilings and cornices Fees to feng shui master to advice on geomancy for the office Vans (<3 tonnes) Private cars Motor car in Malaysia representative office Total
225,000
S19A 3 yrs
S19A 1 yrs
1,002