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Grant income

Grant income

If a trading company receives a govt grant to purchase fixed assets, is;

1. The total amount of the grant subject to CT?

2. The AIA only available on the cost of fixed assets less grant received?

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02nd Mar 2013 19:27

Grants

I shall send you a "Personal Message" later. Thanks. 

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02nd Mar 2013 19:45

If the grant is towards the cost of acquiring a fixed asset then:

1.  No (the grant is not 'income').

2.  Yes.

RM

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