CA20030 - Plant and Machinery Allowances (PMA): introduction: overseas property business

ITTOIA 2005/Part 3, CTA 2009/Part 4

An overseas property business is one whose profits are assessable under Part 3 of ITTOIA 2005 or Part 4 of CTA 2009. The term 'overseas property business' is defined in ITTOIA/265 and CTA 2009/S 206. The same rules apply to an overseas property business as to an ordinary property business. Where a taxpayer carries on an ordinary property business and an overseas property business, PMAs are calculated and given separately on each business.