Singapore legislation

Clause 6

of Income Tax (Amendment) Bill

Clause 6

Amendment of section 10C

Section 10C(12) of the principal Act is amended —

(a)

by deleting the words “or $5,000 (being the month of September 2011 or any subsequent month)” in paragraph (a) of the definition of “relevant amount” and substituting the words “, $5,000 (being the month of September 2011 or any subsequent month before January 2016) or $6,000 (being the month of January 2016 or any subsequent month)”;

(b)

by deleting paragraph (b) of the definition of “relevant amount” and substituting the following paragraph:“(b)$79,333 (in relation to the year 2011), $85,000 (in relation to the years 2012, 2013, 2014 and 2015) or $102,000 (in relation to the year 2016 and every subsequent year),”;

(c)

by deleting paragraph (a) of the definition of “specified amount”;

(d)

by deleting the word “and” at the end of paragraph (c) of the definition of “specified amount”;

(e)

by deleting the words “and every subsequent year” in paragraph (d) of the definition of “specified amount” and substituting the words “, 2013, 2014 or 2015”; and

(f)

by inserting the word “and” at the end of paragraph (d) of the definition of “specified amount”, and by inserting immediately thereafter the following paragraph:“(e)in relation to the year 2016 and every subsequent year, the difference between $102,000 and the total ordinary wages paid to the employee in that year; and for this purpose, any amount of ordinary wages paid to the employee for any month in the year in excess of $6,000 is to be disregarded;”.