Clause 65
Remission of tax
of Income Tax (Amendment) Bill
BillNot in forceProvision 65 of 65
Clause 65
(1)
Section 32(1)(a) of the Income Tax (Amendment) Act 2001 (Act 24 of 2001) is amended by deleting “10%” and substituting “15%”.
(2)
There shall be remitted the tax payable for the year of assessment 2002 by an individual or a Hindu joint family resident in Singapore a sum equal to the aggregate of —
(a)
10% of the tax payable for that year of assessment; and
(b)
an amount not exceeding $250 as determined by the Comptroller.
(3)
The remission under subsection (2)(a) shall be given before the remission under subsection (2)(b).