Clause 36

by deleting paragraph (b) of subsection (2);

by deleting the words “and paragraphs (a) and (b)” in the proviso of paragraph (c) in subsection (2) and substituting the words “and paragraph (a)”;

by deleting the words “or previous spouse, as the case may be” in subsection (2)(d);

by inserting, at the end of subsection (2)(d)(A), the word “or”;

by deleting the word “; or” at the end of subsection (2)(d)(B) and substituting a colon;

by deleting sub-paragraph (C) of subsection (2)(d);

by deleting “, (b)” in the proviso of subsection (2)(d);

by deleting “35½%” in subsection (2)(h) and substituting “36%”;

by deleting “$27,158” wherever it appears in subsection (2)(h) and substituting in each case “$30,600”;

by deleting “(b),” in subsection (2)(i)(iii);

by deleting “(b),” in subsection (2)(j)(iv); and

by deleting subsections (3), (3A) and (4) and substituting the following subsections:“(3) In the case of an individual resident in Singapore in the year of assessment who, in the year preceding the year of assessment was a citizen or permanent resident of Singapore and has paid money in accordance with section 18 of the Central Provident Fund Act (Cap. 36) to his spouse’s, his sibling’s, his parent’s or his grandparent’s retirement account or special account or 2 or more of those accounts, there shall be allowed for that year of assessment, a deduction of the lower of —

the amount of such payment or (as the case may be) the total amount of all such payments but subject to the maximum amount by which each account may be topped-up in accordance with regulations made under the Central Provident Fund Act; and

$7,000,except that —

no payment made to his spouse’s or his sibling’s retirement account or special account shall be allowed as a deduction if the income of that spouse or sibling, being one who at the time of such payment is not incapacitated by reason of physical or mental infirmity, exceeds $4,000 in the year preceding the year of payment; and

a payment to a retirement account that is a prescribed payment shall not be allowed as a deduction.(3A) In the case of an individual resident in Singapore in the year of assessment who, in the year preceding the year of assessment, was a citizen or permanent resident of Singapore and who, or whose employer on his behalf, has paid money to his retirement account or special account in accordance with section 18 of the Central Provident Fund Act, there shall be allowed for that year of assessment, a deduction of the lower of —

the amount of such payment or (as the case may be) the total amount of all such payments but subject to the maximum amount by which the account may be topped-up in accordance with regulations made under the Central Provident Fund Act; and

$7,000,except that a payment to a retirement account that is a prescribed payment shall not be allowed as a deduction.”.