Clause 9

by inserting, immediately after the definition of “approved project”, the following definitions:“ “chargeable concessionary income” means concessionary income after deducting expenses, donations, allowances or losses allowable under the Income Tax Act [Cap. 134] against the concessionary income;“chargeable normal income” means normal income after deducting expenses, donations, allowances or losses allowable under the Income Tax Act against the normal income;“concessionary income” means income subject to tax at the concessionary rate of tax under section 43A, 43C, 43D, 43E, 43F, 43G, 43H, 43I, 43J, 43K or 43L of the Income Tax Act, as the case may be;“concessionary investment allowance” means an investment allowance given to a company for an approved project from which the concessionary income of the company is derived;“concessionary investment allowance account” means an account kept by a company for the purpose of calculating the amount of concessionary investment allowance granted under this Part;”;

by deleting the definition of “investment allowance account”;

by inserting, immediately after the definition of “investment day”, the following definitions:“ “normal income” means income subject to tax at the rate of tax under section 43(1)(a) of the Income Tax Act;“normal investment allowance” means an investment allowance given to a company for an approved project from which the normal income of the company is derived;“normal investment allowance account” means an account kept by a company for the purpose of calculating the amount of normal investment allowance granted under this Part;”.