Singapore legislation
Clause 5
Clause 5
Amendment of section 19
Section 19 of the principal Act is hereby amended by inserting immediately after subsection (2) thereof the following subsections: —“(2A) Notwithstanding the provisions of subsection (1) and (2) of this section where a motor car to which this subsection applies is acquired after the 3rd of March, 1975 —
the initial allowance to be made under subsection (1) of this section shall be calculated on an amount equal to the capital expenditure incurred in respect of that motor car or fifteen thousand dollars whichever is the less;
the annual allowance to be made under subsection (2) of this section shall be calculated on the basis that the original cost of that motor car is the capital expenditure incurred or fifteen thousand dollars whichever is the less; and
the aggregate of the initial and annual allowances to be made under this subsection for all relevant years of assessment shall not exceed fifteen thousand dollars.(2B) Notwithstanding subsection (2) of this section where the amount of the reducing value of a motor car to which this section applies exceeds fifteen thousand dollars at the end of the basis period immediately after the 3rd day of March 1975, the amount in excess of fifteen thousand dollars shall be disregarded and the reducing value of that motor car at the end of the basis period shall be deemed to be fifteen thousand dollars.(2C) Subsections (2A) and (2B) of this section shall apply to a motor car which is constructed or adapted for the carriage of not more than seven passengers exclusive of the driver and the weight of which unladen does not exceed three tons except —
a taxi;
a motor car registered as a private car (school transport); and
a private hire car which is hired to the same person for not more than six months in any year.”.