{"id":1716,"date":"2021-03-13T14:47:46","date_gmt":"2021-03-13T06:47:46","guid":{"rendered":"http:\/\/ehluar.com\/main\/?p=1716"},"modified":"2021-04-27T14:57:21","modified_gmt":"2021-04-27T06:57:21","slug":"e-tax-guide-income-tax-treatment-of-a-trust-registered-under-the-business-trusts-act","status":"publish","type":"post","link":"http:\/\/ehluar.com\/main\/2021\/03\/13\/e-tax-guide-income-tax-treatment-of-a-trust-registered-under-the-business-trusts-act\/","title":{"rendered":"e-Tax Guide, Income Tax Treatment of a Trust registered under the Business Trusts Act"},"content":{"rendered":"\n<p>On or about 10 Mar 2021, the Inland Revenue Authority of Singapore   (IRAS) has published the third edition of the e-Tax Guide on Income Tax Treatment of a Trust registered under the Business Trusts Act.  It replaces the second edition published on 8 Jan 2019. <\/p>\n\n\n\n<p>This e-Tax Guide provides details on the income tax treatment of a trust which is registered under the Business Trusts Act and is applicable to trustee-managers or unit-holders of a registered business trust.<\/p>\n\n\n\n<p>A trust registered under the Business Trusts Act (\u201cregistered business trust\u201d) will be treated like a company for income tax purposes and is taxable at the trustee level. It is a final tax and the unit-holders of the registered business trust will not be taxed on their entitlement of trust income.<\/p>\n\n\n\n<p>This guide sets out how certain corporate tax features are to be applied to a registered business trust: <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>group relief;<\/li><li>application of \u201cshareholding test\u201d; <\/li><li>election of section 24 for the sale of property;<\/li><li>mergers and acquisitions scheme; and(e)gains on disposal of shares. <\/li><\/ul>\n\n\n\n<p>In this third edition, the following revisions were made: <\/p>\n\n\n\n<p>(i)   Updated paragraphs 3.8 and 8.1 of the guide to reflect tax changes  announced in Budget 2020 on the extension of the M&amp;A scheme to 31 December 2025 and the lapse of stamp duty relief for instruments executed on or after 1 April 2020 ; and<\/p>\n\n\n\n<p>(ii)  Inserted footnote 5 in paragraph 9.1 of the guide for clarity .  <\/p>\n\n\n\n<p>Source: <em>IRAS<\/em>, 13 Mar 2021<\/p>\n\n\n<p><!--EndFragment--><br>\n<br>\n<\/p>","protected":false},"excerpt":{"rendered":"<p>On or about 10 Mar 2021, the Inland Revenue Authority of Singapore (IRAS) has published the third edition of the e-Tax Guide on Income Tax Treatment of a Trust registered under the Business Trusts Act. It replaces the second edition published on 8 Jan 2019. This e-Tax Guide provides details on the income tax treatment [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12,8,14,6],"tags":[],"class_list":["post-1716","post","type-post","status-publish","format-standard","hentry","category-company-law","category-incometax","category-stamp-duties","category-techupdates"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1716","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/comments?post=1716"}],"version-history":[{"count":1,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1716\/revisions"}],"predecessor-version":[{"id":1717,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1716\/revisions\/1717"}],"wp:attachment":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/media?parent=1716"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/categories?post=1716"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/tags?post=1716"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}