Raymond Yeung Tax Consultant former Assessor of Inland Revenue Department 前稅局評稅主任楊輝洪

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Profits Tax - Commercial building allowance 

A commercial building is a building other than an industrial building used in a trade, business or profession. 

Commercial building allowance (CBA) has been introduced since 1998/99 to replace rebuilding allowance (RA) for commercial building. 

CBA works like Industrial Building Allowance without initial allowance. The terminology under CBA follows that of IBA with similar definition or meaning. So, please read my tax guide on Industrial Building Allowance.  

Annual allowance (at 4% on cost of construction) is granted to a person who has a relevant interest in a commercial building or structure at the end of the basis period for the year of assessment. Part of a building can qualify --- it is not necessary for the whole building to be used for the trade. The meaning of “relevant interest” is similar to that for industrial buildings --- in short, a person will have a “relevant interest” in a commercial building when he incurs capital expenditure in it.    

Like IBA, CBA is based on the cost of construction.  From the cost of construction, CBA will be deducted and the balance carried forward is called “residue of expenditure”. In fact, the definition of “residue of expenditure” is similar to that under IBA. If the building is not put to use at the end of the basis period, no CBA will be granted --- instead, a notional allowance equal to 4% of the capital expenditure will be written off from the residue of expenditure. 

Press here for my tax guide on annual allowance


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