Singapore Entrepreneurs Network & Startup Organization

Hi Dienna

I'm too new here, accidentally came across this website and saw your query.

Capital allowance is a term commonly use in tax. In fact, it is related to accounting depreciation.

As far as you should know, only expenses used to generate income would tax deductible.

Assets such as machinery, not allow to claim as tax deductible expenses but could claim under the capital allowance.

Hope the above answer your query.

Sole-pro is allowed to claim capital allowance for the assets acquire but face unlimited liability.

Athough Sole-pro is a convenience business structure to setup but no protection of personal assets. Moreover the yearly renewal of business license need to topup medisave.

Cheer
THOMAS