§ 13Q — Exemption of trust income to which beneficiary is entitled

13Q.—(1) Where any beneficiary of a trust who is resident in Singapore is entitled to any share of the statutory income of the trust, that share is exempt from tax in the beneficiary’s hands if it would have been exempt from tax under any provision of this Part had it been derived or received directly by the beneficiary rather than the trustee.(2) This section does not apply to —(a)

any income of a real estate investment trust within the meaning of section 43(10);

(b)

any income of a designated unit trust within the meaning of section 35(14);

(c)

[Deleted by Act 37 of 2014]

(d)

any income of a trust fund prescribed under section 13C;

(e)

any income of a foreign trust specified under section 13F;

(f)

any income of a locally‑administered trust prescribed under section 13N;

(g)

any income of a trust the trustee of which is a prescribed person under section 13D; or

(h)

any income of an approved trust fund referred to in the definition of “approved person” under section 13U(5), or of a trust fund that is a feeder fund or master fund approved under section 13U.[13T

[37/2014]

—(1) Where any beneficiary of a trust who is resident in Singapore is entitled to any share of the statutory income of the trust, that share is exempt from tax in the beneficiary’s hands if it would have been exempt from tax under any provision of this Part had it been derived or received directly by the beneficiary rather than the trustee.

(2) This section does not apply to —(a)

any income of a real estate investment trust within the meaning of section 43(10);

(b)

any income of a designated unit trust within the meaning of section 35(14);

(c)

[Deleted by Act 37 of 2014]

(d)

any income of a trust fund prescribed under section 13C;

(e)

any income of a foreign trust specified under section 13F;

(f)

any income of a locally‑administered trust prescribed under section 13N;

(g)

any income of a trust the trustee of which is a prescribed person under section 13D; or

(h)

any income of an approved trust fund referred to in the definition of “approved person” under section 13U(5), or of a trust fund that is a feeder fund or master fund approved under section 13U.[13T

[37/2014]