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@taxlawgh please i think the projector should be part of class one , since you cannot use the projector without the computer, therefore, i consider it as a computer peripheral. please let me know if there is an argument on this. thanks i really love your tutorials, it is really helping me. thanks
For your personal practice later, the question solved in this video can be downloaded via this link: 682d6933-6aa1-4034-89f0-790ca85efbf7.filesusr.com/ugd/2563b0_2c379c6a97c94a558168e03bb5992628.pdf
Hi, Please as Class 4 pool is on straight Line basis and as such doesn't suffer the pooling system, supposing there was a Repair and Improvement expenditure on office building which exceeded the threshold of the 5% of the written down value of the pool at the end of the year and so the excess expenditure is disallowed for deduction and added back to the pool for additional capital allowance. In this case do you creat a new pool for the for the disallowed R&I on the building or add it up to the existing office building pool which stands on the capital allowance schedule?.
Good Evening Sir, I checked the solution to Question 5 of Feb, 2020 CIT Advance Taxation Practice. Please can you assist me with explanation on how an amount 3,200,000 WDV in pool 2 was arrived at.
Below are the written down values of assets in the various pools as at 1 January, 2019; Class 1 GHȻ45,000 Class 2 GHȻ90,000 Class 3 GHȻ54,000 Required i. Find the deductible amount for repairs and improvement . Please any guide?
@@francistyron1856 Adutwie Manufacturing Company Ltd incurred expenses of GHȻ25,000 on repairs and improvement on its plants in 2019 year of assessment. Gross profit declared for the year was GHȻ985,000 and no new assets were bought during the year. Agreed expenses apart from capital allowance and repairs and improvement was GHȻ325,000 Below are the written down values of assets in the various pools as at 1 January, 2019; Class 1 GHȻ45,000 Class 2 GHȻ90,000 Class 3 GHȻ54,000 Required i. Find the deductible amount for repairs and improvement ii. Determine the tax payable if the company is located at Tuobodom in the Techiman North District of B
To study with us LIVE, register for our premium Full Tuition Program using any of the links below:
- ICAG: taxlawgh.com/icag
- CITG: taxlawgh.com/citg
For other programs (Undergraduate, Post Graduate, LLB), register for our "Principles of Taxation" course on the below page
- taxlawgh.com/icag
Super Accurate
Well done boss👏👏👏👏🔥
thank you very much.your video has been very helpful
We’re glad to hear you found this really helpful!
My man you are good papapaa
@taxlawgh please i think the projector should be part of class one , since you cannot use the projector without the computer, therefore, i consider it as a computer peripheral. please let me know if there is an argument on this. thanks
i really love your tutorials, it is really helping me.
thanks
@mysteriousmindsforchange2043 the reason you're giving, is the more reason why it's not in class and in class 3
Hello so what if the plant and machinery isn’t used in a manufacturing company what class will it be under??? Class 3???
Yes, Class 3
@@TaxLawGH oh ok thank you
For your personal practice later, the question solved in this video can be downloaded via this link: 682d6933-6aa1-4034-89f0-790ca85efbf7.filesusr.com/ugd/2563b0_2c379c6a97c94a558168e03bb5992628.pdf
Hi, Please as Class 4 pool is on straight Line basis and as such doesn't suffer the pooling system, supposing there was a Repair and Improvement expenditure on office building which exceeded the threshold of the 5% of the written down value of the pool at the end of the year and so the excess expenditure is disallowed for deduction and added back to the pool for additional capital allowance. In this case do you creat a new pool for the for the disallowed R&I on the building or add it up to the existing office building pool which stands on the capital allowance schedule?.
Excellent
Is capital allowance granted in the year of disposal?
Thank you so much‼️
We’re glad to hear you found this really helpful!
Thank you so much
We’re glad to hear you found this really helpful!
great job
We’re glad to hear you found this helpful
Good Evening Sir,
I checked the solution to Question 5 of Feb, 2020 CIT Advance Taxation Practice.
Please can you assist me with explanation on how an amount 3,200,000 WDV in pool 2 was arrived at.
Below are the written down values of assets in the various pools as at 1 January, 2019;
Class 1 GHȻ45,000
Class 2 GHȻ90,000
Class 3 GHȻ54,000
Required
i. Find the deductible amount for repairs and improvement . Please any guide?
The question looks incomplete
@@francistyron1856 Adutwie Manufacturing Company Ltd incurred expenses of GHȻ25,000 on repairs and
improvement on its plants in 2019 year of assessment. Gross profit declared for the year
was GHȻ985,000 and no new assets were bought during the year. Agreed expenses apart
from capital allowance and repairs and improvement was GHȻ325,000
Below are the written down values of assets in the various pools as at 1 January, 2019;
Class 1 GHȻ45,000
Class 2 GHȻ90,000
Class 3 GHȻ54,000
Required
i. Find the deductible amount for repairs and improvement
ii. Determine the tax payable if the company is located at Tuobodom in the
Techiman North District of B
Kindly leave ur contact for questions please.