Singapore legislation
Clause 6
Clause 6
Amendment of section 10D
Section 10D of the principal Act is amended by inserting, immediately after subsection (2), the following subsection:“(2A) The income of a lessor during any basis period from the finance leasing of any machinery or plant that is treated as sold by the lessor to the lessee pursuant to regulations made under subsection (1), is determined by the formula A – B, where —
(a)
A is the total of all payments liable to be made during the basis period by the lessee to the lessor under the finance lease; and
(b)
B is that part of those payments that is attributable to the repayment of principal.”.