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The  Income Tax (Cost of Renovation and Refurbishment of Business Premise) Rules 2020 (“the Rules”) were gazetted on 28 December 2020. The Rules have effect from the year of assessment 2020.

The Rules allow the “costs of renovation and refurbishment of business premise” incurred by a person from 1 March 2020 until December 2021 and used for the purpose of his business, to be deducted for the purposes of ascertaining that person's adjusted income for the basis period for a year of assessment, subject to a maximum deductible amount of RM300,000/-.

The items for which tax deductions are allowed are set out in the First Schedule of the Rules and are as follows:
 

1. General electrical installation