9. Amendment of section 14H

In the ITA, in section 14H —

in subsection (1A)(a)(ii), delete “and” at the end;

in subsection (1A)(a), after sub‑paragraph (ii), insert —“(iii)where the expenditure is incurred at any time during the period between the first day of the basis period for the year of assessment 2027 and 31 December 2030 (both dates inclusive) — such other investment development expenditure as is prescribed by rules made under section 7; and”; (c)after subsection (1AA), insert —“(1AB) Rules made for the purposes of subsection (1A)(a)(iii) may be made to take effect from the year of assessment 2027.”;

in subsection (1B), after “section 14B(2A),”, insert “(2AA), (2AB), (2AE) and (2AF) (whichever is applicable),”;

in subsection (1B)(a), delete “or” at the end; and

in subsection (1B), replace paragraph (b) with —“(b)for any year of assessment between the years of assessment 2019 and 2026 (both years inclusive) — $150,000; or

for the year of assessment 2027 or a subsequent year of assessment — $400,000.”.