Capital Allowances and Tax Exemptions

With effect from YA 2005, option to claim 100% capital allowances for machinery or plant costing less than $1,000. A qualifying company with its first 3 YAs falling within YA 2005 to YA 2009 can claim for full tax exemption up to $100,000 of its normal chargeable income (excluding Singapore franked dividend). Charter income received by an approved International Shipping Enterprise from any person including a Singapore tax resident qualifies for tax exemption.

For more details, Please click to download the IRAS circular.