a) As an estate agent you are invited to give an opinion in a discussion regarding legislation that give an impact to property owners. Discuss development charge under the Town and Country Planning Act, 1976. (15 marks)
b) Capital allowance is an allowance allowed by the Inland Revenue Board to replace the fixed asset depreciation deductible from the gross business income.
Explain two (2) following components of capital allowance:
- Initial allowance
- Yearly allowance (10 marks)
(25 marks, 2014 Q7)
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