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Balancing Allowance

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17:31 Mar 31, 2007
English to Spanish translations [PRO]
Law/Patents - Law: Taxation & Customs
English term or phrase: Balancing Allowance
aparece en una declaración de impuestos como el nombre de uno de los items a completar (es un codigo) dice asi: "Machinery and Pant - Balancing allowance" y "Industrial building- Balancing allowance"
S
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Summary of answers provided
4deducción o desgravación liquidatoria / bonificación compensatoria /
Margarita Ezquerra (Smart Translators, S.L.)
4concesion del balance or balance de la rebaja
CarmenHaydee
3ver explicación
Lorena Roqué


  

Answers


2 hrs   confidence: Answerer confidence 3/5Answerer confidence 3/5
balancing allowance
ver explicación


Explanation:
Definition
Traducirlo no es suficiente ya que este SALDO es dificil de interpretar con una simple traducción, Yo Lo suelo explicar con mis palabras,
Acá te paso las definición y unos ejemplos espero te ayude.
Amount deducted from or added to the pre-tax profit, depending on whether the actual depreciation on fixed assets exceeds or falls below the capital allowance availed. Also called balancing change.

If you sell or scrap your fixed assets on which you have previously claimed capital allowances, you have to compute the Balancing Allowance or Balancing Charge.



Balancing Allowance is given if the Written Down Value of the asset exceeds the sale/disposal proceeds.



Balancing Charge arises when the sale proceeds of the asset exceed the Written Down Value. Balancing Charge is subject to tax. The amount of Balancing Charge is restricted to the actual capital allowances previously granted for the asset.



To illustrate the Balancing Allowance/Balancing Charge computation, please see
Example 1: Balancing Allowance



Where plant or machinery has been sold, scrapped or destroyed, a balancing allowance is given if the Tax Written Down Value exceeds the sale/disposal proceeds.





$

Cost of asset
6,000

Less: Total capital allowances allowed
4,000

Tax Written Down Value as at 31.12.00
2,000

Less: Selling price in 2001
1,000

Balancing Allowance
1,000





As the selling price is below the Tax Written Down Value, you may claim $1,000 of balancing allowance in Year of Assessment 2002.





Example 2: Balancing Charge



Where the sale proceeds of the asset sold exceed the Tax Written Down Value, the difference will be taxed as a balancing charge.





$

Cost of asset
6,000

Less: Total capital allowances allowed
4,000

Tax Written Down Value as at 31.12.00
2,000

Less: Selling price in 2001
3,000

Balancing Charge
1,000




However, the balancing charge will be restricted to the actual capital allowances claimed previously as illustrated in the next example:-





Example 3: Balancing Charge restricted to actual capital allowances claimed previously





$

Cost of asset
3,000

Less: Total capital allowances allowed
1,000

Tax Written Down Value as at 31.12.00
2,000

Less: Selling price in 2001
3,500


1,500

Balancing Charge
1,000





Balancing charge is restricted to $1,000, i.e. the total capital allowances allowed previously.


Lorena Roqué
Argentina
Local time: 15:18
Native speaker of: Spanish
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9 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
balancing allowance
concesion del balance or balance de la rebaja


Explanation:
del dinero que resta o del dinero sobrante

CarmenHaydee
United States
Local time: 14:18
Native speaker of: Native in SpanishSpanish
PRO pts in category: 1
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16 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
balancing allowance
deducción o desgravación liquidatoria / bonificación compensatoria /


Explanation:
Suerte

Margarita Ezquerra (Smart Translators, S.L.)
Spain
Local time: 20:18
Native speaker of: Native in SpanishSpanish
PRO pts in category: 220
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PRO (3): Lorena Roqué, CarmenHaydee, Margarita Ezquerra (Smart Translators, S.L.)


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Changes made by editors
Apr 1, 2007 - Changes made by Margarita Ezquerra (Smart Translators, S.L.):
LevelNon-PRO » PRO


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