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Contents  

Long Title

Part I PRELIMINARY

Part II ADMINISTRATION

Part III IMPOSITION OF INCOME TAX

Part IV EXEMPTION FROM INCOME TAX

Part V DEDUCTIONS AGAINST INCOME

Part VI CAPITAL ALLOWANCES

Part VII ASCERTAINMENT OF CERTAIN INCOME

Part VIII ASCERTAINMENT OF STATUTORY INCOME

Part IX ASCERTAINMENT OF ASSESSABLE INCOME

Part X ASCERTAINMENT OF CHARGEABLE INCOME AND PERSONAL RELIEFS

Part XI RATES OF TAX

Part XII DEDUCTION OF TAX AT SOURCE

Part XIII ALLOWANCES FOR TAX CHARGED

Part XIV RELIEF AGAINST DOUBLE TAXATION

Part XV PERSONS CHARGEABLE

Husband and wife

Trustees, agents and curators

Part XVI RETURNS

Part XVII ASSESSMENTS AND OBJECTIONS

Part XVIII APPEALS

Part XIX COLLECTION, RECOVERY AND REPAYMENT OF TAX

Part XX OFFENCES AND PENALTIES

Part XXA EXCHANGE OF INFORMATION UNDER AVOIDANCE OF DOUBLE TAXATION ARRANGEMENTS AND EXCHANGE OF INFORMATION ARRANGEMENTS

Part XXB INTERNATIONAL AGREEMENTS TO IMPROVE TAX COMPLIANCE

Part XXI MISCELLANEOUS

FIRST SCHEDULE Institution, authority, person or fund exempted

SECOND SCHEDULE Rates of tax

THIRD SCHEDULE Repealed

FOURTH SCHEDULE Name of bond, securities, stock or fund

FIFTH SCHEDULE Child relief

SIXTH SCHEDULE Number of years of working life of asset

SEVENTH SCHEDULE Advance rulings

EIGHTH SCHEDULE Information to be included in a request for information under Part XXA

Legislative History

Comparative Table

Comparative Table

 
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On 30/08/2015, you requested the version in force on 30/08/2015 incorporating all amendments published on or before 30/08/2015. The closest version currently available is that of 01/07/2015.
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Deduction for hotel refurbishment expenditure
14M.
—(1)  Where any person carrying on a hotel trade or business at any hotel premises proposes to carry out a project for any refurbishment of the hotel premises, he may apply to the Minister, or such person as he may appoint, on or before 30th June 2003 for that project (which shall be completed on or before 30th June 2006) to be approved for the purposes of claiming a deduction under this section in respect of expenditure incurred by him on the refurbishment project.
[21/2003]
(2)  Where the Minister, or such person as he may appoint, considers it expedient in the public interest to do so, he may approve the refurbishment project subject to such terms and conditions as he may impose.
[32/99]
(3)  Every approval given under this section shall specify —
(a)
the qualifying period during which the approved refurbishment project is to be carried out;
(b)
the qualifying expenditure and the maximum amount thereof to be allowed as a deduction under this section; and
(c)
a percentage, exceeding 100% but not exceeding 150%, of the qualifying expenditure to be allowed as a deduction under this section.
[32/99]
(4)  Where in the basis period for any year of assessment the person has incurred any qualifying expenditure on the approved refurbishment project, he shall be allowed, on due claim, for a period of 5 years (consecutive or otherwise) a deduction against the income from his hotel trade or business computed in accordance with subsection (5).
[32/99]
(5)  The amount of deduction under subsection (4) for any year of assessment shall be ascertained by the formula
where A
is the percentage referred to in subsection (3)(c); and
B
is the amount of qualifying expenditure incurred.
(6)  No deduction shall be allowed under this section in respect of —
(a)
any expenditure which is not incurred during the qualifying period referred to in subsection (3)(a);
(b)
any expenditure which was incurred before 1st July 1998; or
(c)
any year of assessment relating to any basis period during which the hotel premises are not used for the purposes of a hotel trade or business of the person who incurs the qualifying expenditure.
[32/99]
(7)  Where any person has been allowed a deduction under this section in respect of any qualifying expenditure, no deduction shall be allowed under any other provision of this Act in respect of the expenditure for which the deduction was allowed.
[32/99]
(8)  [Deleted by Act 19 of 2013]
(9)  [Deleted by Act 19 of 2013]
(10)  [Deleted by Act 19 of 2013]
(11)  [Deleted by Act 19 of 2013]
(12)  [Deleted by Act 19 of 2013]
(13)  [Deleted by Act 19 of 2013]
(14)  [Deleted by Act 19 of 2013]
(15)  [Deleted by Act 19 of 2013]
(16)  [Deleted by Act 19 of 2013]
(17)  [Deleted by Act 19 of 2013]
(18)  During the qualifying period referred to in subsection (3)(a) or within 5 years after the date of completion of the approved refurbishment project, a person who has been allowed any deduction under this section shall not, without the written approval of the Minister or such person as he may appoint —
(a)
sell, lease out or otherwise dispose of any asset in respect of which a deduction has been allowed under this section;
(b)
cease to use the hotel premises or any part thereof for his hotel trade or business; or
(c)
sell, lease out or otherwise dispose of the hotel premises or any part thereof.
[32/99]
(19)  Where any of the events referred to in subsection (18) occurs in the basis period for any year of assessment, the person shall be deemed to have derived an amount of income for that year of assessment equal to the total amount of deduction which has been allowed under this section in respect of the assets or any part of the hotel premises to which the event relates.
[32/99]
(20)  Notwithstanding subsection (19), the Minister or such person as he may appoint may, subject to such terms and conditions as he may impose and upon any application by the person deemed to have derived income under that subsection, reduce the amount of income so deemed.
[32/99]
(21)  Where any deduction allowed under this section is in respect of any capital expenditure incurred by a person on any machinery or plant and where at any time after 5 years from the date of completion of the approved refurbishment project any of the events referred to in section 20(1) occurs in respect of that machinery or plant, section 20(1) to (3) shall apply, with the necessary modifications, and a balancing allowance or a balancing charge shall be made to or, as the case may be, on that person for the year of assessment in the basis period for which that event occurs.
[32/99]
(22)  For the purposes of subsection (21) —
(a)
any reference in section 20(1) to allowances made under section 19 or 19A shall be read as a reference to a deduction allowed under this section;
(b)
the amount of the capital expenditure on the provision of the machinery or plant still unallowed as at the time of the occurrence of the event shall be ascertained by the formula
where C
is the amount of capital expenditure incurred on the provision of the machinery or plant; and
D
is the number of years of assessment for which any deduction has been allowed under this section in respect of that capital expenditure; and
(c)
notwithstanding anything in section 20(3), in no case shall the amount on which a balancing charge is made on a person exceed an amount computed in accordance with the formula
where C and D
have the same meanings as in paragraph (b).
[32/99]
(23)  Notwithstanding anything in this section, where it appears to the Comptroller that in any year of assessment any deduction allowed under this section ought not to have been so allowed, the Comptroller may, in the year of assessment or within 4 years after the expiration thereof, make such assessment or additional assessment upon the person as may be necessary in order to make good any loss of tax.
[19/2013]
History for Provision '14M Deduction for hotel refurbishment expenditure'.
Left Arrow
Right Arrow
pr14M-.
03/09/1999
Formal Consolidation
31 August 1999
Act
134 of 1996
Compare versionsDiff

01/12/1999
Informal Consolidation
07 September 2000
Amended
Act 24 of 2000

30/12/1999
Formal Consolidation
30 December 1999
1999 RevEd
 
Compare versionsDiff

18/01/2000
Informal Consolidation
07 September 2000
Amended
Act 24 of 2000

15/03/2000
Informal Consolidation
15 March 2000
Amended
Act 9 of 2000

07/09/2000
Informal Consolidation
07 September 2000
Amended
Act 24 of 2000

01/10/2000
Informal Consolidation
10 August 2001
Amended
Act 24 of 2001

31/01/2001
Informal Consolidation
10 August 2001
Amended
Act 24 of 2001

01/04/2001
Informal Consolidation
01 April 2001
Amended
Act 3 of 2001

01/06/2001
Informal Consolidation
10 December 2002
Amended
Act 37 of 2002

10/08/2001
Informal Consolidation
10 August 2001
Amended
Act 24 of 2001

13/10/2001
Informal Consolidation
10 December 2002
Amended
Act 37 of 2002

23/11/2001
Informal Consolidation
10 December 2002
Amended
Act 37 of 2002

01/01/2008
Formal Consolidation
01 January 2008
2008 RevEd
 
Compare versionsDiff

17/01/2008
Informal Consolidation
16 December 2008
Amended
Act 34 of 2008

16/02/2008
Informal Consolidation
16 December 2008
Amended
Act 34 of 2008

27/02/2008
Informal Consolidation
27 February 2008
Amended
Act 35 of 2007

01/04/2008
Informal Consolidation
18 December 2012
Amended
Act 29 of 2012

02/04/2008
Informal Consolidation
02 April 2008
Amended
Act 10 of 2006

01/10/2008
Informal Consolidation
31 December 2009
Amended
Act 27 of 2009

31/10/2008
Informal Consolidation
31 October 2008
Amended
Act 22 of 2011

16/12/2008
Informal Consolidation
16 December 2008
Amended
Act 34 of 2008

01/01/2009
Informal Consolidation
16 December 2008
Amended
Act 34 of 2008

09/01/2009
Informal Consolidation
09 January 2009
Amended
Act 22 of 2011

22/01/2009
Informal Consolidation
28 November 2013
Amended
Act 19 of 2013

01/04/2009
Informal Consolidation
01 April 2009
Amended
Act 22 of 2011

04/05/2009
Informal Consolidation
31 December 2009
Amended
Act 27 of 2009

01/07/2009
Informal Consolidation
31 December 2009
Amended
Act 27 of 2009

01/10/2009
Informal Consolidation
28 November 2013
Amended
Act 19 of 2013

29/12/2009
Informal Consolidation
31 December 2009
Amended
Act 27 of 2009

01/01/2010
Informal Consolidation
26 November 2010
Amended
Act 29 of 2010

09/02/2010
Informal Consolidation
22 January 2010
Amended
Act 24 of 2009

22/02/2010
Informal Consolidation
18 December 2012
Amended
Act 29 of 2012

23/02/2010
Informal Consolidation
20 December 2011
Amended
Act 22 of 2011

01/03/2010
Informal Consolidation
26 November 2010
Amended
Act 29 of 2010

01/04/2010
Informal Consolidation
18 December 2012
Amended
Act 29 of 2012

21/05/2010
Informal Consolidation
26 November 2010
Amended
Act 29 of 2010

07/07/2010
Informal Consolidation
20 December 2011
Amended
Act 22 of 2011

22/10/2010
Informal Consolidation
22 October 2010
Amended
Act 25 of 2010

22/11/2010
Informal Consolidation
22 November 2010
Amended
Act 29 of 2010

01/01/2011
Informal Consolidation
18 December 2012
Amended
Act 29 of 2012

19/02/2011
Informal Consolidation
19 February 2011
Amended
Act 22 of 2011

01/03/2011
Informal Consolidation
26 November 2010
Amended
Act 29 of 2010

01/04/2011
Informal Consolidation
01 April 2011
Amended
Act 22 of 2011

25/04/2011
Informal Consolidation
25 April 2011
Amended
Act 22 of 2011

01/05/2011
Informal Consolidation
08 April 2011
Amended
Act 13 of 2011

01/06/2011
Informal Consolidation
18 December 2012
Amended
Act 29 of 2012

01/09/2011
Informal Consolidation
01 September 2011
Amended
Act 22 of 2011

20/12/2011
Informal Consolidation
20 December 2011
Amended
Act 22 of 2011

01/01/2012
Informal Consolidation
20 December 2011
Amended
Act 22 of 2011

13/03/2013
Informal Consolidation
04 February 2013
Amended
Act 3 of 2013

22/02/2014
Informal Consolidation
27 November 2014
Amended
Act 37 of 2014

31/03/2014
Formal Consolidation
31 March 2014
2014 RevEd
 
Compare versionsDiff

23/12/2013
Informal Consolidation
20 December 2013
Amended
S 775/2013

31/01/2013
Informal Consolidation
02 January 2013
Amended
Act 36 of 2012

26/02/2013
Informal Consolidation
28 November 2013
Amended
Act 19 of 2013

01/04/2013
Informal Consolidation
28 November 2013
Amended
Act 19 of 2013

17/02/2013
Informal Consolidation
17 December 2012
Amended
Act 2 of 2013

18/04/2013
Informal Consolidation
17 April 2013
Amended
Act 11 of 2013

01/04/2012
Informal Consolidation
18 December 2012
Amended
Act 29 of 2012

03/12/2012
Informal Consolidation
03 December 2012
Amended
S 595/2012

01/04/2014
Informal Consolidation
27 November 2014
Amended
Act 37 of 2014

30/05/2014
Informal Consolidation
27 November 2014
Amended
Act 37 of 2014

01/03/2012
Informal Consolidation
18 December 2012
Amended
Act 29 of 2012

18/12/2012
Informal Consolidation
28 November 2013
Amended
Act 19 of 2013

28/02/2013
Informal Consolidation
27 November 2014
Amended
Act 37 of 2014

01/09/2014
Informal Consolidation
27 November 2014
Amended
Act 37 of 2014

25/02/2013
Informal Consolidation
28 November 2013
Amended
Act 19 of 2013

27/11/2014
Informal Consolidation
27 November 2014
Amended
Act 37 of 2014

21/02/2014
Informal Consolidation
27 November 2014
Amended
Act 37 of 2014

01/01/2014
Informal Consolidation
28 November 2013
Amended
Act 19 of 2013

01/06/2012
Informal Consolidation
18 December 2012
Amended
Act 29 of 2012

28/02/2012
Informal Consolidation
18 December 2012
Amended
Act 29 of 2012

28/06/2013
Informal Consolidation
28 November 2013
Amended
Act 19 of 2013

28/11/2013
Informal Consolidation
28 November 2013
Amended
Act 19 of 2013

17/02/2012
Informal Consolidation
18 December 2012
Amended
Act 29 of 2012

01/01/2015
Informal Consolidation
01 January 2015
Amended
Act 37 of 2014

01/06/2015
Informal Consolidation
01 June 2015
Amended
Act 37 of 2014

01/07/2015
Informal Consolidation
27 November 2014
Amended
Act 37 of 2014