Clause 28

by deleting paragraph (a) of subsection (2) and substituting the following paragraph:“(a)had a wife, living with or maintained by him, whose income was not more than $2,000 in that year, there shall be allowed a deduction of $2,000;”;

by deleting the words “on or after 1st January 1988” in the 2nd and 3rd lines of subsection (2)(f) and substituting the words “during the period from 1st January 1988 to 31st July 2004”;

by inserting, immediately after proviso (viii) to subsection (2)(g), the following proviso:“(ix)in the case of an NOR individual who has elected for tax exemption under section 13N(1) for the year of assessment, no deduction shall exceed the contributions which would have been recoverable under section 7(2) of the Central Provident Fund Act (Cap. 36) in respect of his apportioned employment income for the year immediately preceding the year of assessment;”;

by deleting “36%” in the 8th line of subsection (2)(h) and substituting “33%”;

by deleting “$25,920” wherever it appears in subsection (2)(h) and substituting in each case “$25,380”;

by inserting, immediately after proviso (iv) to subsection (2)(h), the following proviso:“(v)the reference to “$25,380” for the year 2003 in this paragraph shall be read as a reference to “$21,780” for the year 2004;”;

by deleting the words “and had in the case of the wife elected for separate assessment under section 51(6)” in subsection (2)(m);

by deleting the proviso to subsection (2)(o) and substituting the following proviso:“Provided that —

where an SRS member derives income from a trade, business, profession or vocation or the exercise of an employment outside Singapore, no deduction shall exceed the amount of income remitted to, transmitted or brought into Singapore from outside Singapore;

where an SRS member is an NOR individual who has elected for tax exemption under section 13N(1) for the year of assessment, no deduction shall exceed the contributions to the SRS account in respect of his apportioned employment income for the year immediately preceding the year of assessment;”;

by inserting, immediately after paragraph (o) of subsection (2), the following paragraph:“Deduction for grandparent caregiver(p)was a married woman, widow or divorcee whose parent or grandparent, or parent or grandparent of her husband or of her previous husband —

was living in Singapore;

was looking after any of her children who is a citizen of Singapore and is 12 years old and below at any time during the year preceding the year of assessment ; and

was not carrying on any trade, business, profession, vocation or employment in that year,there shall be allowed against her earned income a deduction of $3,000 in respect of one such parent or grandparent only:Provided that a deduction under this paragraph in respect of that parent or grandparent shall be allowed to one woman only and where more than one woman claims a deduction under this paragraph in respect of the same parent or grandparent, a deduction shall be allowed to such claimant as the women may agree or, failing such agreement, to such claimant as determined by the Comptroller whose decision shall be final, and in this paragraph, “children” has the same meaning as “child” in the Fifth Schedule;”;

by deleting subsection (3) and substituting the following subsection:“(3) In the case of an individual resident in Singapore in the year of assessment who is a citizen or permanent resident in Singapore and who, in the year preceding the year of assessment, has paid money in accordance with section 18 of the Central Provident Fund Act (Cap. 36) to his, his spouse’s, his parent’s or his grandparent’s retirement account, there shall be allowed a deduction of the amount of such payment, or $7,000, whichever is the less, except that no payment made to his spouse’s retirement account shall be allowed as a deduction if the income of the spouse exceeds $2,000 in the year preceding the year of payment.”;

by inserting, immediately after the word “his,” wherever it first occurs in the 2nd line in subsection (4), the words “his spouse’s,”;

by inserting, immediately after the word “same” in subsection (4), the word “spouse,”;

by deleting the words “40% of all ordinary wages” in subsection (6) and substituting “$27,500”;

by deleting “$72,000” and “$100,000” wherever they appear in subsection (6)(a) and (b) and substituting in each case “$66,000” and “$93,500”, respectively;

by deleting “$100,000” and “$28,000” wherever they appear in subsection (10) and substituting in each case “$93,500” and “$27,500”, respectively;

by deleting paragraph (a) of subsection (11) and substituting the following paragraph:“(a)living with her husband;”;

by inserting, immediately after the definition of “additional wages” in subsection (13), the following definition:“ “apportioned employment income” has the same meaning as in section 13N(7);”; and

by inserting, immediately after the definition of “approved” in subsection (13), the following definition:“ “NOR individual” has the same meaning as in section 13N(7);”.