Glossary · tax
Sections 13R and 13X
Also known as: 13R, 13X, Section 13R, Section 13X
- Definition
- Sections 13R and 13X are the former numbers of what are now Section 13O and Section 13U of the Income Tax Act (former Section 13CA is now 13D). They were renumbered in the Income Tax Act 1947, 2020 Revised Edition (in force 31 December 2021).
The schemes continued under their new numbers; today's Sections 13R and 13X of the Act are unrelated provisions. Conditions have been revised since — for new single-family-office awards from 1 August 2026, 13O requires S$20 million of AUM and 2 investment professionals, 13U requires S$50 million and 3, and minimum local spending is tiered by AUM from S$200,000 to S$1 million a year. References to 13R / 13X in older client materials should be read as pointing to the current schemes and their current conditions.
Source: Income Tax Act 1947
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