Pursuant to the proposal under the Second Stimulus Package, the Minister has made the above rules, wherein are specified expenditure incurred on renovation and refurbishment which qualify for accelerated capital allowance at the rate of 50%. These rules are effective from years of assessment 2009 to 2011.
The items listed in the Rules are similar to those listed in the Guidelines for Mini Budget 2009, except for expenditure incurred on prayer facilities, and electrical wiring, which have been excluded from the Rules. It is to be noted that designer fees and professional fees do not qualify for the 50% rate.
Members are advised to refer to item 3 of the Guidelines on 2009 Mini Budget for a better understanding of the law. The Mini Budget Guidelines are available at the IRB’s website at http://www.hasil.gov.my/lhdnv3/documents/budget/Garis_Panduan_Mini_Bajet_2009.pdf.
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