Singapore legislation

Clause 3

Amendment of section 10B

In the principal Act, in section 10B(12) —

(a)

in the definition of “relevant amount”, replace paragraph (a) with —“(a)the overseas total wages paid to an employee in any year less the aggregate in that year of such part of the overseas ordinary wages that are paid to the employee in every month in that year which exceeds —

(i)

for a month before September 2011 — $4,500; (ii)for the month of September 2011 or any subsequent month before January 2016 — $5,000;

(iii)

for the month of January 2016 or any subsequent month before September 2023 — $6,000; (iv)for the month of September 2023 or any subsequent month before January 2024 — $6,300;

(v)

for the month of January 2024 or any subsequent month before January 2025 — $6,800;

(vi)

for the month of January 2025 or any subsequent month before January 2026 — $7,400; or

(vii)

for the month of January 2026 or any subsequent month — $8,000; or”; and

(b)

in the definition of “specified amount”, replace paragraph (e) with —“(e)in relation to the year 2016 and every subsequent year, the difference between $102,000 and the total ordinary wages paid to the employee in that year; and for this purpose, the amount of ordinary wages mentioned in each of the following sub-paragraphs that is paid to the employee for every month specified in that sub-paragraph is disregarded: (i)for the month of January 2016 or any subsequent month before September 2023 — any amount in excess of $6,000;

(ii)

for the month of September 2023 or any subsequent month before January 2024 — any amount in excess of $6,300;

(iii)

for the month of January 2024 or any subsequent month before January 2025 — any amount in excess of $6,800;

(iv)

for the month of January 2025 or any subsequent month before January 2026 — any amount in excess of $7,400;

(v)

for the month of January 2026 or any subsequent month — any amount in excess of $8,000;”.

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