Income Tax (PIC Automation Equipment) Rules 2012

No. S 209

Income Tax Act

(CHAPTER 134)

Income Tax
(PIC Automation Equipment)
Rules 2012

In exercise of the powers conferred by section 7(1), the definition of “PIC automation equipment” in section 19A(15), and section 19A(17) of the Income Tax Act, the Minister for Finance hereby makes the following Rules:

Citation and commencement

1. These Rules may be cited as the Income Tax (PIC Automation Equipment) Rules 2012 and shall have effect for the year of assessment 2011 and subsequent years of assessment.

Automation equipment

2. The automation equipment specified in the Schedule are hereby prescribed for the purposes of the deduction to be allowed under section 14T of the Act and the allowances to be made under section 19A(2A) and (2B) of the Act.

Criteria for approving automation equipment

3.—(1) For the purpose of section 19A(17) of the Act, the Minister or the person appointed by him may approve any automation equipment as a PIC automation equipment for a person (referred to in this paragraph as the applicant) if the Minister or appointed person is satisfied that —

(a)

the automation equipment is or is intended to be put into use in the core process or one of the core processes of the trade, profession or business of the applicant;

(b)

the automation equipment enhances or will enhance the productivity of the applicant in carrying on or exercising the trade, profession or business; and

(c)

the automation equipment is not a basic tool used in that trade, profession or business, or is such basic tool but —

(i)	the technology used in that equipment is more advanced than or superior to the technology used in other automation equipment used by the applicant in that trade, profession or business and performing a similar function to the first-mentioned equipment; or
(ii)	on the date of the application for approval of that equipment, no other automation equipment performing a similar function to that equipment has been used by the applicant in that trade, profession or business.

(2) An application for approval shall —

(a)	be made to the Minister or appointed person before the expiration of the time the applicant has to furnish a return of his income for the year of assessment in question, or within such time as may be allowed by the Minister or appointed person in a particular case; and
(b)	be accompanied by such information and supporting documents in such form and manner as the Minister or appointed person may specify.

Made this 15th day of May 2012.

LIM SOO HOON

Permanent Secretary
(Finance) (Performance),
Ministry of Finance,
Singapore.

[MF(R) 32.19.2887 V31/32; AG/LLRD/SL/134/2010/25 Vol. 1]

(To be presented to Parliament under section 7(2) of the Income Tax Act)

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