Economic Expansion Incentives (Relief from Income Tax) Act(CHAPTER 86)
Table of Contents
Long Title
Part I PRELIMINARY
1 Short title
2 Act to be construed as one with Income Tax Act
3 Interpretation
Part II PIONEER INDUSTRIES
4 Power to approve an industry and a product as a pioneer industry and a pioneer product
5 Application for and issue and amendment of pioneer certificate
6 Tax relief period for pioneer product
7 Provisions governing old and new trade or business
8 Provisions governing separate trade or business
9 Power to give directions
10 Ascertainment of income in respect of old trade or business
11 Application of Part XVI of Income Tax Act
12 Comptroller to issue statement of income
13 Exemption from income tax
14 Recovery of tax exempted
15 Carry forward of loss and allowance
Part III PIONEER SERVICE COMPANIES
16 Interpretation of this Part
17 Application for and issue and amendment of certificate for pioneer service company
18 (Repealed)
19 Application of sections 6 to 15 to pioneer service company
19A Exclusion of intellectual property income from sections 10 and 15
Part IIIA (Repealed)
19B (Repealed)
19D (Repealed)
19E (Repealed)
19F (Repealed)
19G (Repealed)
19H (Repealed)
Part IIIB DEVELOPMENT AND EXPANSION INCENTIVE
19I Interpretation of this Part
19J Application for and issue of certificate to development and expansion company
19K Tax relief period of development and expansion company
19KA International legal services
19L Recovery of tax subject to concessionary rate
19M Ascertainment of income from qualifying activities
19N Ascertainment of income from other trade or business
19O Deduction of losses
19P Power to give directions
Part IV TRANSFER OF AWARDS
20 Interpretation of this Part
21 Application of this Part
22 Application for transfer of award
23 Certificate for transferred awards
24 (Repealed)
25 (Repealed)
Part V (Repealed)
26 (Repealed)
27 (Repealed)
28 (Repealed)
Part VI (Repealed)
29 (Repealed)
30 (Repealed)
31 (Repealed)
32 (Repealed)
33 (Repealed)
34 (Repealed)
35 (Repealed)
36 (Repealed)
37 (Repealed)
38 (Repealed)
39 (Repealed)
40 (Repealed)
41 (Repealed)
42 (Repealed)
43 (Repealed)
44 (Repealed)
Part VIA (Repealed)
44A (Repealed)
44B (Repealed)
44C (Repealed)
44D (Repealed)
44E (Repealed)
44F (Repealed)
44G (Repealed)
44H (Repealed)
44I (Repealed)
Part VII (Repealed)
45 (Repealed)
46 (Repealed)
47 (Repealed)
48 (Repealed)
49 (Repealed)
50 (Repealed)
51 (Repealed)
52 (Repealed)
53 (Repealed)
54 (Repealed)
55 (Repealed)
56 (Repealed)
Part VIII FOREIGN LOANS FOR PRODUCTIVE EQUIPMENT
57 Application for approval of foreign loan
58 Restriction on disposal of specified productive equipment
59 Exemption of approved foreign loan interest from tax
60 Exemption of additional interest on approved foreign loan from tax
Part IX ROYALTIES, FEES AND DEVELOPMENT CONTRIBUTIONS
61 Application for approval of royalties, fees or contributions
62 Notice of variation of terms of agreement or arrangement
63 (Repealed)
64 Reduction of tax for approved royalties, fees or contributions
65 Exemption from tax where investment made in approved enterprise
Part X INVESTMENT ALLOWANCES
66 Interpretation of this Part
66A Application of Parts X and XIV and section 3 in relation to corporate partnerships and partners of corporate partnerships
67 Capital expenditure investment allowance
68 Investment allowance
69 Crediting of investment allowance
70 Prohibition to sell, lease out or dispose of assets
71 Exemption from income tax
72 Recovery of tax exempted
73 (Repealed)
74 (Repealed)
74A No investment allowance for certain expenditure
Part XI (Repealed)
75 (Repealed)
76 (Repealed)
77 (Repealed)
78 (Repealed)
79 (Repealed)
80 (Repealed)
81 (Repealed)
82 (Repealed)
83 (Repealed)
84 (Repealed)
Part XII (Repealed)
85 (Repealed)
86 (Repealed)
87 (Repealed)
88 (Repealed)
89 (Repealed)
90 (Repealed)
91 (Repealed)
92 (Repealed)
Part XIII (Repealed)
93 (Repealed)
94 (Repealed)
95 (Repealed)
96 (Repealed)
97 (Repealed)
Part XIIIA (Repealed)
97A (Repealed)
97B (Repealed)
97C (Repealed)
97D (Repealed)
97E (Repealed)
97F (Repealed)
97G (Repealed)
Part XIIIB (Repealed)
Part XIIIC (Repealed)
Part XIIID INTEGRATED INVESTMENT ALLOWANCE
97ZA Interpretation of this Part
97ZB Application for approval of project
97ZC Grant of IIA
97ZD Crediting of IIA
97ZE Exemption from income tax: general
97ZF Exemption from income tax where company derives normal income or mixed income before a date, and concessionary income from that date
97ZG Exemption from income tax where company derives concessionary income or mixed income before a date, and normal income from that date
97ZH Prohibition against selling, leasing out or disposing of qualifying equipment
97ZHA Recovery of IIA
97ZI Recovery of tax
97ZJ (Repealed)
Part XIIIE (Repealed)
Part XIIIF (Repealed)
Part XIV MISCELLANEOUS PROVISIONS
98 Prohibition of publication of application and certificate or letter
99 Revocation of certificate or letter
100 Provisions of Income Tax Act not affected
101 Action of officers no offence
102 Regulations
103 Savings provision
104 (Repealed)
Legislative History
Comparative Table