The Inland Revenue Authority of Singapore (IRAS) has updated its guidance on Capital Allowances in regard to examples of assets that do not qualify as plant or machinery for allowance purposes. In general, capital allowances may be claimed in respect of qualifying fixed assets that are plant and machinery used in a company's trade, business, or profession. 'Plant and machinery' generally refers to a fixed asset that has the following characteristics: Is not a trading stock of your company (not for resale purposes); Functions as an apparatus used for carrying out the business or trade activities of your company; and...