Singapore legislation

Clause 8

Amendment of section 13

Section 13 of the principal Act is amended —

(a)

by inserting, immediately after paragraph (c) of subsection (1), the following paragraph:“(d)any gains or profits, other than dividends derived from Singapore from which tax has been deducted under section 44, arising from sums standing in the SRS account of any SRS member except where section 10L(13) applies;”;

(b)

by deleting paragraph (g) of subsection (1) and substituting the following paragraph:“(g)such income derived by the Singapore Exchange Derivatives Clearing Limited from the commencement of its business to 31st December 2003 as may be prescribed;”;

(c)

by deleting paragraph (u) of subsection (1) and substituting the following paragraph:“(u)such interest derived during the period 1st January 2002 to 31st December 2004 by any person from the deposit of moneys of up to an aggregate amount of $100,000 in one or more of his POSB savings accounts with The Development Bank of Singapore Ltd;”; and

(d)

by deleting subsection (3).

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