Mar 5, 20211 min read

IT Equipment Allowable for Tax Deduction 100% for First Year

Updated: Apr 10, 2021

There are a few methods for calculating capital allowances. You may write off the cost of an asset over one year, two years (for YA 2021 and YA 2022 as announced in Budget 2020 and 2021), three years or over the prescribed working life of the asset under Section 19 and 19A.

Click below link to IRAS official website for more info.

https://www.iras.gov.sg/irashome/Businesses/Companies/Working-out-Corporate-Income-Taxes/Claiming-Allowances/Capital-Allowances/Calculating-Capital-Allowances/