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low emission car-capital allowance computation

Forums › ACCA Forums › ACCA TX Taxation Forums › low emission car-capital allowance computation

  • This topic has 2 replies, 2 voices, and was last updated 11 years ago by bona007.
Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • November 1, 2013 at 8:33 am #144282
    bona007
    Member
    • Topics: 9
    • Replies: 2
    • ☆

    Suppose the low emission car bought is a secondhand one. How to deal with it? Shall I put it in other additions and not give it the FYA or shall the item be excluded from the computation?

    Thanks very much for the support.

    November 12, 2013 at 10:22 pm #145742
    dookhan12
    Member
    • Topics: 76
    • Replies: 61
    • ☆☆

    Hi!
    The treatment of motor cars depends on its CO2 emissions as follows:

    1. Low emission (C02 emissions is less than or equal to 110 g/km)
    If purchased new: it is eligible for 100% FYA
    If second-hand: treat as a standard emission car (see below)

    2. Standard emission (C02 emissions is within 111 – 160 g/km
    Treatment:
    Include in the general pool (main pool) as an addition not qualifying for AIA or FYA

    3. High emission (C02 is > 160 g/km)
    Treatment:
    Include in the special rate pool as an additional not qualifying for AIA or FYA.

    Understand now? 🙂

    November 13, 2013 at 3:52 pm #145835
    bona007
    Member
    • Topics: 9
    • Replies: 2
    • ☆

    Yup thanks 🙂

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