Income Tax (Concessionary Rate of Tax for Financial Sector Incentive Companies) Regulations 2005

  Table of Contents

  Enacting Formula

1 Citation and commencement

2 Definitions

2A Application

3 Financial sector incentive company

4 10% tax payable on qualifying income of financial sector incentive (standard tier) company derived before 1st January 2011

4A 12% tax payable on qualifying income of financial sector incentive (standard tier) company derived on or after 1st January 2011

4B 12% tax payable on qualifying income of financial sector incentive (trustee companies) company derived between 1 April 2016 and 30 June 2021

5 10% tax payable on qualifying income of financial sector incentive (headquarter services) company

6 10% tax payable on qualifying income of financial sector incentive (fund management) company

7 Computation of income of financial sector incentive (standard tier) company derived before 1st January 2011 and of financial sector incentive (fund management) company from managing funds of certain foreign investors and approved companies

7A Computation of income of financial sector incentive (standard tier) company derived on or after 1st January 2011 from managing funds of certain foreign investors and approved companies

8 5% tax payable on qualifying income of financial sector incentive company

9 Determination of income chargeable with tax

9A Deduction, etc., where activity subject to 2 concessionary tax rates

10 Determination of qualifying base percentage

11 Financial sector incentive company to maintain records

12 Revocation and deeming of approvals