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Amendments are not highlighted in legislation amended before 2012. We are working on it.
Formal Consolidation |  1999 RevEd
Replacement of machinery or plant
21.—(1)  Where machinery or plant in the case of which any of the events mentioned in section 20(1) has occurred is replaced by the owner thereof and a balancing charge falls to be made on him by reason of that event or, but for this section, would have fallen to be made on him by reason thereof, then, if by notice in writing to the Comptroller he so elects, this section shall have effect.
(2)  If the amount on which the charge would have been made is greater than the capital expenditure on providing the new machinery or plant —
(a)the charge shall be made only on an amount equal to the difference;
[37/75; 9/80; 5/83]
(b)no initial allowance, no balancing allowance and no annual allowance shall be made or allowed in respect of the new machinery or plant or the expenditure on the provision thereof; and
(c)in considering whether any, and if so what, balancing charge falls to be made in respect of the expenditure on the new machinery or plant, there shall be deemed to have been made in respect of that expenditure an initial allowance equal to the full amount of that expenditure.
(3)  If the capital expenditure on providing the new machinery or plant is equal to or greater than the amount on which the charge would have been made —
(a)the charge shall not be made;
(b)the amount of any initial allowance in respect of the said expenditure shall be calculated as if the expenditure had been reduced by the amount on which the charge would have been made;
(c)in considering what annual allowance is to be made in respect of the new machinery or plant, there shall be left out of account a proportion of the machinery or plant equal to the proportion which the amount on which the charge would have been made bears to the amount of the said expenditure; and
(d)in considering whether any, and if so what, balancing allowance or balancing charge falls to be made in respect of the new machinery or plant, the initial allowance in respect thereof shall be deemed to have been increased by an amount equal to the amount on which the charge would have been made.
(4)  This section shall not apply to the provision of any new motor car for which no allowance is allowed by virtue of section 19(2C).
[32/99]
(5)  For the purpose of this section, where the capital expenditure incurred in providing a new motor car registered outside Singapore and used exclusively outside Singapore exceeds $35,000, the expenditure incurred shall be deemed to be $35,000.
[32/99]
Informal Consolidation | Amended Act 24 of 2000
Replacement of machinery or plant
21.—(1)  Where machinery or plant in the case of which any of the events mentioned in section 20(1) has occurred is replaced by the owner thereof and a balancing charge falls to be made on him by reason of that event or, but for this section, would have fallen to be made on him by reason thereof, then, if by notice in writing to the Comptroller he so elects, this section shall have effect.
(2)  If the amount on which the charge would have been made is greater than the capital expenditure on providing the new machinery or plant —
(a)the charge shall be made only on an amount equal to the difference;
[37/75; 9/80; 5/83]
(b)no initial allowance, no balancing allowance and no annual allowance shall be made or allowed in respect of the new machinery or plant or the expenditure on the provision thereof; and
(c)in considering whether any, and if so what, balancing charge falls to be made in respect of the expenditure on the new machinery or plant, there shall be deemed to have been made in respect of that expenditure an initial allowance equal to the full amount of that expenditure.
(3)  If the capital expenditure on providing the new machinery or plant is equal to or greater than the amount on which the charge would have been made —
(a)the charge shall not be made;
(b)the amount of any initial allowance in respect of the said expenditure shall be calculated as if the expenditure had been reduced by the amount on which the charge would have been made;
(c)in considering what annual allowance is to be made in respect of the new machinery or plant, there shall be left out of account a proportion of the machinery or plant equal to the proportion which the amount on which the charge would have been made bears to the amount of the said expenditure; and
(d)in considering whether any, and if so what, balancing allowance or balancing charge falls to be made in respect of the new machinery or plant, the initial allowance in respect thereof shall be deemed to have been increased by an amount equal to the amount on which the charge would have been made.
(4)  This section shall not apply to the provision of any new motor car for which no allowance is allowed by virtue of section 19(2C).
[32/99]
(5)  For the purpose of this section, where the capital expenditure incurred in providing a new motor car registered outside Singapore and used exclusively outside Singapore exceeds $35,000, the expenditure incurred shall be deemed to be $35,000.
[32/99]