On 19/06/2013,
you requested for the version in force on 19/06/2013
incorporating all amendments published on or before 19/06/2013.
The closest version currently available is that of 16/12/2008.
14. Section 13N of the principal Act is amended —
(a)
by deleting sub-paragraph (ii) of subsection (1)(a) and substituting the following sub-paragraph:
“(ii)
derives gains or profits of at least $160,000 from the exercise of any employment in Singapore for the year preceding that year of assessment;”;
(b)
by deleting the words “if he is neither a citizen of Singapore nor a Singapore permanent resident at the time such contribution is made.” in subsection (1)(b) and substituting the following words:
“if —
“(i)
he is neither a citizen nor a permanent resident of Singapore at the time such contribution is made;
(ii)
he derives gains or profits of at least $160,000 from the exercise of any employment in Singapore for the year preceding that year of assessment; and
(iii)
a deduction with respect to such contribution has not been allowed to his employer under section 14(1)(e).”;
(c)
by inserting, immediately after subsection (5), the following subsection:
“(5A) Where —
(a)
an individual has been approved as an NOR individual before the year of assessment 2009;
(b)
the period of his approval has not expired at the beginning of that year of assessment; and
(c)
he has had income exempted from tax under this section in force immediately before the date of commencement of section 14 of the Income Tax (Amendment) Act 2008 for any year of assessment between the year of assessment 2005 and the year of assessment 2008 (both years inclusive),
then the individual may, at any time at or before filing with the Comptroller a return of his income for the year of assessment 2009, elect to continue to be subject to subsections (1) and (7) in force immediately before the date of commencement of section 14 of the Income Tax (Amendment) Act 2008; and in that event subsections (1) and (7) in force immediately before that date shall continue to apply to him for so long as he remains an NOR individual.”;
(d)
by deleting the words “subsection (1)” in subsection (6) and substituting the words “subsections (1) and (5A)”; and
(e)
by deleting paragraphs (a), (b) and (c) in the definition of “relevant employment income” in subsection (7) and substituting the following paragraphs:
“(a)
director’s fee; and
(b)
where any amount of tax of the NOR individual payable in Singapore is borne, directly or indirectly, by his employer, the amount of tax that is so borne.”.