The 300k for tax deduction for renovation is it applicable for rental retail outlet that went through renovations? What is the documentation needed?
With respect to the enquiry on the special renovation deduction, please refer to the (attached FAQ) issued by the Inland Revenue Board (IRB) dated 11 March, 2021.
The renovation done on premises which are used for business will qualify for the special renovation claim and subject to the terms and conditions set by the IRB. The detailed criteria, type of renovation and documentation required are self-explanatory in the FAQ.