PR 1/2001 Ownership of P&M for the purpose of claiming CA

1. Conditions to claim capital allowances (IA & AA)
- Carrying on a business during the basis period
- Incurred the qualifying plant expenditure
- Asset was used for business purpose
- Owned the asset at the end of the basis period

2. Ownership of the asset
a) Assets owned by and used by the same person
- Entitled to claim CA

b) Assets purchase and used for business purposes by A and register under B name
- A entitled to claim IA & AA
- B not entitled to claim CA

c) Assets purchase and used for business purposes by both A & B and register under B name
- Both A & B entitled to claim IA & AA in appropriate proportion

d) Assets purchase by A and register & used for business purposes by B
- Both A & B not entitled to claim IA & AA

Source: summarised from
http://www.hasil.gov.my/pdf/pdfam/PR1_2001.pdf