Singapore legislation

Clause 2

Amendment of section 14

Section 14 of the Income Tax Act (referred to in this Act as the principal Act) is amended —

(a)

by deleting the word “and” at the end of sub‑paragraph (i)(C) of the proviso to paragraph (e) of subsection (1);

(b)

by deleting sub-paragraph (i)(D) of the proviso to paragraph (e) of subsection (1) and substituting the following sub-paragraphs:“(D)commencing on or after 1st July, 1979, and before 1st July, 1982, shall not exceed twenty and a half per cent; and

(E)

commencing on or after 1st July, 1982, shall not exceed twenty-two per cent,”;

(c)

by inserting, immediately after the words “1st day of April, 1979” in subsection (3A), the words “and before the 1st day of April, 1982,”; and

(d)

by inserting, immediately after subsection (3A), the following subsection:“(3B) For the purpose of application to a motor car acquired on or after 1st April, 1982, the reference to “fifteen thousand dollars” in subsection (3) shall, wherever it occurs, be read as a reference to “thirty-five thousand dollars”.”.

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