Singapore legislation

Clause 18

Amendment of section 45

Section 45 of the principal Act is amended —

(a)

by deleting “32%” wherever it appears in subsection (1) and substituting in each case “31%”; and

(b)

by deleting subsections (7) and (8) and substituting the following subsection:“(7) Notwithstanding subsection (1), tax shall be deducted —

(a)

at the rate of 40% on every payment made on or after 1st January 1986 which would be assessable on the person receiving the payment for any year of assessment before the year of assessment 1987;

(b)

at the rate of 33% on every payment made on or after 1st January 1989 which would be assessable on the person receiving the payment for the year of assessment 1987, 1988 or 1989;

(c)

at the rate of 32% on every payment made on or after 1st January 1990 which would be assessable on the person receiving the payment for the year of assessment 1990.”.

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