Section 23
schedule 7a to the principal Act is amended—
ActIn forceProvision 23 of 30
Section 23
(a)
in paragraph 2a—
(i)
by renumbering the existing provision as subparagraph (1); and
(ii)
by inserting after subparagraph (1) as renumbered the following subparagraph:
“(2) The allowance which is deemed to have not been given under subparagraph (1) shall be part of the person’s statutory income in the basis period for the year of assessment in which such asset is disposed of.”; and
(b)
by inserting after paragraph 4 the following paragraph:
“4A. statutory income referred to in paragraphs 3
and 4 shall be construed as the amount of statutory income of a person from a source consisting of a business in respect of a qualifying project referred to in paragraph 8.”.
Finance (No. 2)