Singapore legislation
Clause 22
Clause 22
Amendment of section 35
Section 35 of the principal Act is amended by inserting, immediately after subsection (15), the following subsection:“(16) For the purposes of subsection (15), “statutory income of the trustee” does not include —
(a)
in relation to a trustee of a real estate investment trust within the meaning of section 43(10), any income from any trade or business carried on by the trustee other than income of the kinds referred to in section 43(2A)(a)(i), (ii) and (iii); or
(b)
in relation to a trustee of any other trust, any income from any trade or business carried on by the trustee.”.