Income Tax Act 1947 · 2020 Revised Edition · Part 3 · Imposition of Income Tax
10F. Ascertainment of income from business of hiring out motor cars or providing driving instruction or chauffeur services
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Despite any other provisions of this Act, in determining the income derived by any person for any year of assessment from any business of hiring out motor cars or of providing driving instruction using motor cars, the following provisions apply:
any outgoings and expenses incurred in respect of that business for that year of assessment and allowable under this Act may only be deducted against the income derived from that business and any excess of such outgoings and expenses over such income is not available as a deduction against any other income of the person or be available for transfer under section 37B, 37C or 37E for that year of assessment and any subsequent year of assessment;
the allowances under sections 19, 19A, 20, 21 and 22 relating to that business for that year of assessment are only available as a deduction against the income derived from that business and any excess of such allowances over such income is not available as a deduction against any other income of the person or be available for transfer under section 37B, 37C or 37E for that year of assessment and any subsequent year of assessment.
Subsection (1) applies in determining the income derived by any person for the year of assessment 2021 or a subsequent year of assessment from any business of providing chauffeur services using motor cars as it applies in determining the income derived by a person from any business mentioned in that subsection.
year of assessment
“year of assessment” means the period of 12 months commencing on 1 January 1948, and each subsequent period of 12 months.
In this section, “motor car” means a car which is constructed or adapted for the carriage of not more than 7 passengers exclusive of the driver and the weight of which unladen does not exceed 3,000 kilograms.[10H