Industrial Building Allowance Claim for Kindergartens

Income Tax (Industrial Building Allowance) (Kindergarten) Rules 2013

Salient points

• Effective from the year of assessment 2013

• Individuals or companies carrying on a business relating to the provision and maintenance of kindergarten registered with the Ministry of Education

• Construction or purchase of a building used as a kindergarten

• Claimant must be the owner of the building and used by the claimant as kindergarten

• Industrial Building Allowance - 10% per year of assessment

• If less than 10% of the building was not used as a kindergarten, claimant is allowed to treat the whole building as qualifying building expenditure

• Claw back provision applies if the building is disposed within 2 years