Income Tax (Deduction for Resident Individual) (Prescribed Payment) Regulations 2012

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No. S 148

Income Tax Act

(CHAPTER 134)

Income Tax
(Deduction for Resident Individual)
(Prescribed Payment)
Regulations 2012

In exercise of the powers conferred by section 39(3) and (3A) 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 (Deduction for Resident Individual) (Prescribed Payment) Regulations 2012 and shall be deemed to have come into operation on 20th December 2011.

Definition

1A. In these Regulations, “relevant date” means a date on or after 20th December 2011 but before 1st November 2012.

[S 195/2013 wef 01/11/2012]

Prescribed payment

2. A payment made on any relevant date into a retirement account is a prescribed payment for the purposes of section 39(3)(ii) or (3A) of the Act, if it is subject to the maximum amount calculated in accordance with regulation 7(1)(a)(i) of the Central Provident Fund (Minimum Sum Topping‑Up Scheme) Regulations (Cap. 36, Rg 3) in force on that date.

[S 195/2013 wef 01/11/2012]

Made this 16th day of March 2012.

CHAN LAI FUNG

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

[R32.13.2572 V.3; AG/LLRD/SL/134/2010/23 Vol. 1]