Singapore legislation

Clause 13

Amendment of section 19A

Section 19A of the principal Act is amended —

(a)

by inserting, immediately after subsection (1G), the following subsection:“(1H) Notwithstanding section 19, where a person proves to the satisfaction of the Comptroller that he has, on or after 27th February 1999, registered any new vehicle as a replacement for an existing vehicle, for the purposes of a trade, business or profession carried on by him, he shall, in lieu of the allowances provided by subsection (1) or section 19, be entitled, if he so elects, to an allowance of 100% in respect of the capital expenditure incurred on the provision of that new vehicle.”;

(b)

by renumbering the existing subsections (1H) and (1J) as subsections (1J) and (1K), respectively;

(c)

by deleting “(1J)” in the 1st line of subsection (5) and substituting “(1K)”;

(d)

by inserting, immediately after the word “plant” in the 1st line of subsection (6)(b), the words “in subsections (1) and (4)”; and

(e)

by deleting the full-stop at the end of paragraph (k) of subsection (6) and substituting a semi-colon and, by inserting immediately thereafter the following paragraphs:“(l)“certificate of entitlement” means a permit issued or deemed to be issued under section 10A of the Road Traffic Act (Cap. 276);

(m)

“existing vehicle” means any goods vehicle or bus using diesel oil as fuel, and registered before 1st January 1991, which —

(i)

is not a vehicle registered under the RU index marks;

(ii)

is deregistered on or after 27th February 1999 but not later than one year before the last day on which a renewal of registration licence can be issued under the Road Traffic Act in respect of the vehicle; and

(iii)

has, except where the vehicle has been exempted from obtaining a certificate of entitlement, at the date of deregistration of the vehicle —

(A)

at least one year remaining in its certificate of entitlement; or

(B)

a certificate of entitlement which can be renewed after its expiration;

(n)

“goods vehicle” means any motor vehicle constructed or adapted for use for the carriage of goods;

(o)

“new vehicle” means any new goods vehicle or new bus which —

(i)

is registered within one month before, or within 6 months after, the deregistration of the existing vehicle; and

(ii)

bears an index mark which is the same as that of the index mark of the existing vehicle.”.

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