Income Tax (Land Intensification Allowance) Regulations 2012

Status:

Published in Subsidiary Legislation Supplement
on 27 Jan 2012

No. S 28

Income Tax Act

(CHAPTER 134)

Income Tax
(Land Intensification Allowance)
Regulations 2012

In exercise of the powers conferred by section 18C(2) of the Income Tax Act, the Minister for Finance hereby makes the following Regulations:

Citation and commencement

1. These Regulations may be cited as the Income Tax (Land Intensification Allowance) Regulations 2012 and shall be deemed to come into operation on 23rd February 2010.

Intensified use of land for trade or business

2.—(1) The construction or renovation of any building or structure on industrial land promotes the intensified use of the land for a trade or business for the purposes of section 18C(2) of the Act if, following the construction or renovation —

(a)	the building or structure meets the relevant gross plot ratio benchmark for the trade or business specified in the Schedule; and
(b)	more than 80% of the total floor area of the building or structure is used by any one person or partnership for the trade or business.

(2) A trade or business is prescribed for the purposes of section 18C(2) of the Act in relation to the promotion of the intensified use of industrial land if —

(a)

the trade or business is a trade or business specified in the Schedule; and

(b)

following the construction or renovation of any building or structure on the land, the trade or business —

(i)	is the principal trade or business of any one person or partnership; and
(ii)	is the principal trade or business that will be carried on at the building or structure by that person or partnership.

Made this 25th day of January 2012.

CHAN LAI FUNG

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

[MF(R) R32.018.2968 Vol. 12; AG/LLRD/SL/134/2010/18 Vol. 1]

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