Income Tax Act 1947 · 2020 Revised Edition · Part 6 · Capital Allowances
22. Expenditure on machinery or plant
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Expenditure on the provision of machinery or plant includes capital expenditure on alterations to an existing building incidental to the installation of that machinery or plant for the purposes of the trade, profession or business.
capital expenditure
“capital expenditure”, in relation to the purchase of a building or structure, means the net price paid for the building or structure, but does not include the cost of land as determined to the Comptroller’s satisfaction;
Expenditure on the provision of machinery or plant excludes any option premium paid under an option agreement entered into for the purpose of hedging against the cost of the acquisition of such machinery or plant.