Singapore legislation

Clause 29

of Income Tax (Amendment) Bill

Clause 29

Amendment of section 37G

Section 37G of the principal Act is amended —

(a)

by deleting “2013” in subsection (3)(a) and substituting “2010”;

(b)

by deleting “$450,000” in subsection (3)(b) and (ii) and substituting in each case “$300,000”;

(c)

by inserting, immediately after subsection (9), the following subsection:“(9A) No deduction shall be allowed to a company under this section for any year of assessment if a deduction for that expenditure has been allowed under section 14DA(1A) or (1B) for that year of assessment.”; and

(d)

by inserting, immediately after the word “Government” in paragraph (c) of the definition of “qualifying research and development expenditure” in subsection (10), the words “or a statutory board”.

Read in full context — Income Tax (Amendment) Bill →