Latest Updates

The e-Tax Guide has been updated with the following changes:

• Updated the tax change announced in Budget 2021 (i.e. allow a taxpayer the option to claim qualifying R&R costs incurred in the basis period for YA 2022 in one year instead of over three years) by:
  1. updating paragraphs 2.3 and 4.2 
  2. updating paragraph 9.1
  3. updating example 3 in Question 3 in Frequently Asked Questions of the Annex 
• Updated example 3 in Question 3 in Frequently Asked Questions of the Annex to provide clarity on how the three-year relevant periods in the example are arrived at. 
• Updated the section numbers based on Income Tax Act 1947 (2020 Revised Edition)

Updated information on the taxability of the Jobs Growth Incentive.

Updated to include information on the taxability of the Small Business Recovery Grant and the Progressive Wage Credit Scheme Payout.