Singapore legislation

Clause 20

Amendment of section 20

Section 20 of the Ordinance is hereby amended —

(a)

by deleting the words “an initial or an annual allowance has” appearing in the fourth and fifth lines of subsection (1) thereof and substituting therefor the expression “allowances under section 19 or 19A have”;

(b)

by deleting subsections (4) and (5) thereof and substituting therefor the following: —“(4) Notwithstanding anything in subsection (3) of this section, in no case shall the amount on which a balancing charge is made on a person exceed —

(a)

the aggregate of the initial allowance, if any, and the annual allowances, if any, made to him under section 19 of this Ordinance in respect of the expenditure in question; or

(b)

the special allowances, if any, made to him under section 19A of this Ordinance in respect of the expenditure in question.”.

Read in full context — Income Tax (Amendment) Bill →