Singapore legislation

Clause 9

Amendment of section 13C

Section 13C of the principal Act is amended by inserting, immediately after subsection (3), the following subsections:“(4) This section shall not apply to any income derived on or after 1st April 2014 except to the extent allowed by subsection (5).(5) This section continues to apply to income referred to in subsection (1) of a trustee of a trust fund that is derived on or after 1st April 2014 and before the end of the basis period of that trustee in which that date falls, if —

(a)

the trustee has a basis period that ends on a date other than 31st March; and

(b)

the trustee makes an election, at the time of lodgment of the return of income for the year of assessment 2015 or 2016 (as the case may be), or such later time as the Comptroller may allow, to apply this section to such income.”.

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