Singapore legislation

Clause 4

of Income Tax (Amendment) Bill

Clause 4

Amendment of section 10E

Section 10E of the principal Act is amended —

(a)

by inserting, immediately after the word “company” in the 2nd, 4th, 7th and 8th lines of subsection (1), the words “or trustee of a property trust”; and

(b)

by deleting the definition of “investments” in subsection (2) and substituting the following definitions:“ “immovable property-related assets” means debt securities and shares issued by property companies, mortgaged-backed securities, other property trust funds, and assets incidental to the ownership of immovable properties;“investments” means securities, immovable properties and immovable property-related assets;“property trust” means a trust which invests in immovable properties or immovable property-related assets.”.

Clause 4 — Income Tax (Amendment) Bill | laws.sg