| Income Tax Act |
| Income Tax (Income from Finance Leases) Regulations |
| Rg 13 |
| G.N. No. S 23/1992 |
| REVISED EDITION 1993 |
| (1st April 1993) |
| [1st April 1990] |
| Citation and application |
1.—(1) These Regulations may be cited as the Income Tax (Income from Finance Leases) Regulations.
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| Definitions |
2. In these Regulations —
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| Allowances made to lessee |
| 3. Allowances under section 19, 19A, 20, 21, 22 or 23 of the Act in respect of any machinery or plant which is leased under a finance lease shall be made to the lessee if the finance lease is treated as a sale agreement. |
| Leases treated as sale agreements |
| Income from lease |
5. In determining the income of a lessor derived from the leasing of any plant or machinery under any finance lease (other than a lease which has been treated as a sale agreement under regulation 4) —
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