On or about 8 January 2019, the Inland Revenue Authority of Singapore (IRAS) has published the second edition of e-Tax Guide: Tax Treatment of a Trust registered under the Business Trusts Act. It replaces the first edition which was published on 19 October 2014.
This e-Tax Guide aimed to provide details on the income tax treatment of a trust which is registered under the Business Trusts Act. It is applicable to trustee-managers or unit-holders of a registered business trust.
This e-Tax Guide replaces the e-Tax Guide on “Income Tax Treatment of a Trust registered under the Business Trusts Act 2004”. The Business Trusts Act regulate the business trusts activities and the responsibilities of a trustee-manager.
The following are the updates and amendments made:
- Amended paragraph 3.8 to reflect the changes announced in Budget 2015 to extend the M&A Scheme for another 5 years.
- Inserted the word “business” under paragraph 7.3(b)
- Deleted “Second Edition” under footnote 4
Source: IRAS, 8 January 2019