Singapore legislation
Clause 31
Clause 31
Amendment of section 39
Section 39(2) of the principal Act is amended —
by deleting sub-paragraph (ii) of paragraph (g) and substituting the following sub-paragraphs:“(ii)where the sum of —
the contributions to any approved pension or provident fund or society under this paragraph; and
the deduction allowed to the individual under paragraph (q),does not exceed $5,000, then the total deductions allowable under this paragraph shall not exceed the difference between $5,000 and the amount of the deduction referred to in sub-paragraph (B);
(iia)where the sum referred to in sub-paragraph (ii) exceeds $5,000, then no deduction shall be allowed under this paragraph, except that the contributions made to an approved pension or a provident fund or the Central Provident Fund under this paragraph shall, subject to subsections (6) to (10), be allowed as a deduction under this paragraph;”; and
by deleting sub-paragraph (i) of paragraph (h) and substituting the following sub-paragraphs:“(i)where the sum of —
the contributions to any approved pension or provident fund or society under paragraph (g) and this paragraph; and
the deduction allowed to the individual under paragraph (q),does not exceed $5,000, then the total deductions allowable under paragraph (g) and this paragraph shall not exceed the difference between $5,000 and the amount of the deduction referred to in sub-paragraph (B);
(ia)where the sum referred to in sub-paragraph (i) exceeds $5,000, then no deduction shall be allowed under paragraph (g) in respect of premiums for life insurance;”.