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Budget Speech 2006
   

Changes to the assessment period for NSmen tax relief

 

4.30 Third, to align the recognition given to NSmen with their contributions in the work year, we will change the basis period for NSmen Tax Relief from the preceding calendar year to the preceding work year. This will take effect from Year of Assessment 2007. This will be fairer to NSmen who are called up for NS activities in two work years but within the same calendar year.

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    ANNEXES
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      Annex A : Tax Changes to Promote the Financial Sector
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      Annex B : Tax Changes to Grow Dynamic Maritime and Logistics Industries
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      Annex C : Review of Record-Keeping Periods
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      Annex D : Review of Industrial Building Allowances
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      Annex E : Budget for FY2005 and FY2006
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