Clause 30

Section 37B of the principal Act is amended by inserting, immediately after subsection (6), the following subsection:“(6A) If, during the basis period for the year of assessment 2013 or any subsequent year of assessment (referred to in this subsection as the relevant year of assessment), a company only derives income that is exempt from tax, then subsection (3) shall, with the necessary modifications, apply to any year of assessment subsequent to the relevant year of assessment as if any sum allowable under section 37(3)(b), (c), (d) or (f) in respect of any donation made by that company during the basis period for the relevant year of assessment were unabsorbed donation in respect of the income of a company that is subject to tax at the rate of tax specified in section 43(1)(a).”.