Singapore legislation

Clause 25

of Income Tax (Amendment) Bill

Clause 25

Amendment of section 35

Section 35 of the principal Act is amended by inserting, immediately after subsection (15), the following subsection:“(15A) Where a unitholder of a real estate investment trust is entitled to an amount, being a return of capital, from a trustee of the real estate investment trust, the cost of the units to the unitholder shall be reduced by the amount entitled.”.