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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

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 19/12/2014, you requested the version as published on or before 19/12/2014.
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Excess provident fund contributions, etc., deemed to be income
10C.
—(1)  Notwithstanding section 13(1)(j), where in any year, contributions have been made by an employer in respect of an employee under section 7 of the Central Provident Fund Act (Cap. 36) —
(a)
any part of the employer’s contributions, in respect of ordinary or additional wages paid to the employee in that year, which is not obligatory under that Act; or
(b)
the employer’s contributions in respect of that part of the additional wages which exceeds the specified amount paid to the employee in that year,
shall be deemed to be income accruing to the employee for the year in which the wages are paid.
(2)  Notwithstanding subsection (1)(a), where in any year, contributions obligatory by reason of a contract of employment are made by any relevant employer to the Central Provident Fund in respect of overseas ordinary wages or overseas additional wages paid to an employee in that year, that part of such contributions up to the relevant amount shall not be deemed to be income accruing to the employee.
(3)  Subsection (2) shall not apply to contributions made by an employer in any year from 1st January 1999 to the Central Provident Fund in respect of an employee who holds a professional visit pass or a work pass in that year.
(4)  Notwithstanding subsection (1)(a) but subject to subsection (6), where a contribution is made by an employer in any year before 2013 to the medisave account of his employee maintained under the Central Provident Fund Act, the contribution up to the maximum amount referred to in subsection (5) shall not be deemed to be income accruing to the employee.
[22/2011; 19/2013]
(5)  The maximum amount is $1,500 less —
(a)
any previous contribution made by the same or another employer to that medisave account in that year where the contribution is not deemed to be income under subsection (4); and
(b)
any previous contribution made to that medisave account in that year that is exempt from tax under section 13(1)(jc).
(5A)  Notwithstanding subsection (1)(a) but subject to subsection (6), where a contribution is made by an employer in 2013 or any subsequent year to the medisave account of his employee maintained under the Central Provident Fund Act, the contribution up to the maximum amount referred to in subsection (5B) shall not be deemed to be income accruing to the employee.
[19/2013]
(5B)  The maximum amount is $1,500 in any year less any previous contribution made to that medisave account in that year by that employer in his capacity as a person of a prescribed description referred to in section 13(1)(jd) (if applicable) that is exempt from tax under that provision.
[19/2013]
(6)  Subsections (4) and (5A) shall not apply to contributions made by an employer in any year from 1st January 1999 to the Central Provident Fund in respect of an employee who holds a professional visit pass or a work pass in that year.
[1/98; 30/2007; 19/2013]
(7)  [Deleted by Act 7 of 2007]
(8)  Where in any year contributions under section 7 of the Central Provident Fund Act have been made in respect of an employee employed by 2 or more employers and the employers are related to each other, subsection (1)(b) shall apply as if all the ordinary and additional wages from those related employers and the contributions on those wages were paid by one employer.
(9)  For the purposes of subsection (8), one employer shall be deemed to be related to another where one of them, directly or indirectly, has the ability to control the other or where both of them, directly or indirectly, are under the control of a common person.
(10)  Subsections (1) to (9) shall apply, with the necessary modifications, to contributions made by an employer to a designated pension or provident fund as if those contributions were the employer’s contributions to the Central Provident Fund.
(11)  Where in any year contributions have been made by an employer in respect of an employee to any pension or provident fund constituted outside Singapore, the whole of the contributions made to that pension or provident fund shall be deemed to be income accruing to the employee for the year in which the contributions are paid.
(12)  In this section —
“additional wages” has the same meaning as in the Central Provident Fund Act;
“designated pension or provident fund” means an approved pension or provident fund designated by the Minister under section 39(8);
“employer’s contributions” means the contributions made by any employer under section 7(1) of the Central Provident Fund Act less the amount of contributions recoverable by the employer from the wages of an employee under section 7(2) of that Act;
“ordinary wages” has the same meaning as “ordinary wages for the month” in the Central Provident Fund Act;
“overseas additional wages” means additional wages paid in respect of the performance of any duty for any period outside Singapore;
“overseas ordinary wages” means ordinary wages paid in respect of the performance of any duty for any period outside Singapore;
“overseas total wages”, in relation to any year, means the total of the overseas ordinary wages and overseas additional wages in that year received by an employee;
“relevant amount” means the amount of contributions which would have been required to be made by the relevant employer had such contributions been obligatory under the Central Provident Fund Act in respect of —
(a)
the overseas total wages paid to an employee in any year less the aggregate in that year of such part of the overseas ordinary wages paid to the employee in every month in that year as exceeds $4,500 (being a month before September 2011) or $5,000 (being the month of September 2011 or any subsequent month); or
(b)
$79,333 (in relation to the year 2011) or $85,000 (in relation to the year 2012 and every subsequent year),
whichever is less;
“relevant employer” means any company incorporated or registered under the Companies Act (Cap. 50) or any person registered under the Business Registration Act (Cap. 32);
“specified amount” means —
(a)
in relation to the year 2005, the difference between $85,000 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 $5,000 shall be disregarded;
(b)
in relation to the year 2006, 2007, 2008, 2009 or 2010, the difference between $76,500 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 $4,500 shall be disregarded;
(c)
in relation to the year 2011, the difference between $79,333 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 $4,500 (being a month before September 2011) or $5,000 (being the month of September 2011 or any subsequent month) shall be disregarded; and
(d)
in relation to the year 2012 and every subsequent year, the difference between $85,000 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 $5,000 shall be disregarded;
“total wages”, in relation to any year, means the total of the ordinary and additional wages in that year received by an employee;
“year” means any year from 1st January to 31st December.