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原帖由 dejavu2003 於 2006-8-17 01:20 PM 發表
I am sure it's a simple question to most of you, but it's been 20 years since I did my last tax computation and I am sure the law has changed.  This is on disposal of fixed assets - eg.

Book WDV ...

hope this is not too late.

the 40 loss is added back to profit per account. ie, if profit per account is 100, it becomes 140, then less depreciation allowance.

the 60 sales proceeds is subtracted from the WDV (Written down value) of the Depreciation allowance, after the current year's initial and annual allowance. ie if WDV b/f is 130, initial alloance = 0 and annual allowance =25, then it becomes 130-0-25-60 = 45. if there is other items left in the class then 45 is carred forward to next year. otherwise 45 credited as balancing allowance.

see atached file. (change .rar to .doc)

[ 本帖最後由 師父 於 2006-8-18 10:15 AM 編輯 ]

引用:

原帖由 dejavu2003 於 2006-8-18 10:12 AM 發表



I think your answer is spot on.  There's no balance allowance/charge any more specially on the assets disposed but of course if the pool becomes negative after subtracting the proceeds. obvio ...

i have added a file above. take a look.

as for the hole question, to tell u the truth, i don't know and who cares. expense it and if the tax people don't think is correct, they'll let u know.

even if u put it in commercial building allowance, when u vacate the premises shouldn't u put everything to balancing allowance and then strat from zero for the new premises ? in that case it wouldn't matter whether u expense it in the account or put it to commericl building allowance.

引用:

原帖由 dejavu2003 於 2006-8-18 10:12 AM 發表



I think your answer is spot on.  There's no balance allowance/charge any more specially on the assets disposed but of course if the pool becomes negative after subtracting the proceeds. obvio ...

you may be correct on the order of the sales proceeds and the allowance. my understanding is that if you can identify the item and keep track of the balance amongst others then you should deducted the sales proceeds first and then do the balancing allowance or charge. but since small firms usually don't (), we just do it at the bottom and usually we get through the IRD with that

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原帖由 dejavu2003 於 2006-8-18 12:01 PM 發表



I just did a tax computation as simple as your example, although copyng the prior years' computations prepared by a big-4 firm, there are 10 schedules.  I decided to take on it myself this ye ...

just tax or tax + audit?
don't know about big 4. but my boss usually charges around 10k for tax + audit for a small company, and in some rare cases up to 25k for some bigger ones that's making big profit. i guess big 4 would probably be 3 or 4 times that.

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原帖由 dejavu2003 於 2006-8-18 01:44 PM 發表



Just Tax, no audit. - what can we reasonable expect to be charged?

We are more than just a small company but the nature of our business and our setup really makes the audit easy, I think.  ...

don't understand. u need an audited account for your tax return and auditors usually will do tax + audit for one price (at least that's how we work). u can even do it yourself if you have the accounts, as u are in the trade yourself. but anyway i think 1 or 2k is more than enough to find a small accounting firm to help you fill in the tax return and do the tax computation, if you have the audit completed, because they are not taking any risk, just one or two hours of clerical work.

[ 本帖最後由 師父 於 2006-8-18 02:12 PM 編輯 ]

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原帖由 dejavu2003 於 2006-8-18 02:20 PM 發表


the audit is done by a big-4 (not including tax) and naturally, you would let them do the tax, by a different team and at a separate fee.  It never crossed my mind to give the tax job to anothe ...

20k for tax only ............ what can i say, but then, you are talking about big 4. their partners got luxury boats and women and big apartments and ...........

if you have to report to head office, your choice will be limited but what the hell, i am sure many firms will be more than happy to do it for 5k.

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原帖由 HJ2127_ATR1 於 2006-8-18 03:28 PM 發表
多謝幾位師兄對答，Ｅ度唔只叫Accounting應該加埋Auditing。　

我老細話過, AUDIT 永遠都好做過 ACCOUNT, 因為
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AUDIT 可以放飛機