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Public Ruling No. 6/2022 – Accelerated Capital Allowance (“ACA”)

Updated: Feb 27

The ACA is an allowable allowance for a person who has incurred qualifying expenditure (QE) on assets used for business purposes.

The ACA rate provided in the Income Tax Rules (ITR) is under the powers conferred by paragraphs 154(1)(b) and paragraphs 10 and 15 of Schedule 3 of the ITA.

The conditions that a person must fulfil to qualify for an Initial Allowance (IA) and an Annual Allowance (AA) are the same as the conditions to claim capital allowances at the normal rate (normal capital allowances) under Schedule 3 of the ITA.

In general: