Malaysia legislation
Section 30
Section 30
Notwithstanding paragraph 5 of Schedule 7B to the principal Act and paragraph 5A of that Schedule as introduced by section 29 of this
Act, any allowance or allowances which cannot be given under paragraph 5 of Schedule 7B to the principal Act before the coming into operation of section 29 of this Act for the year of assessment 2018 and that amount relates to the allowance or allowances ascertained under paragraph 5 of Schedule 7B to the principal Act before the coming into operation of section 29 of this Act for the year of assessment that relates to the basis period where the five-year period specified in paragraph 3 ends —
(a)
shall only be given to that person in accordance with paragraph 5 of Schedule 7B to the principal Act, as if the principal Act has not been amended, for a period of seven consecutive years of assessment and that period commences immediately following the year of assessment 2018; and
(b)
any amount of that allowance or that aggregate amount at the end of that period which has not been given to that person, by reason of insufficiency or absence of statutory income from a business of his for those period, shall be disregarded for the purpose of Schedule 7B of the principal Act.
Finance 31