Budget 2019 Tax Changes And Other Tax Changes Affecting YA 2020

Changes for Individuals

• Personal tax rebate of 50% of tax payable cap up to $200 for Year of assessment 2019
• Grandparent Caregiver Relief in respect of a handicapped and unmarried dependent child, regardless of the child's age from YA 2020
• Lapse of Not Ordinarily Resident scheme after YA 2020

Changes for Businesses

• Writing Down Allowance for acquisition of Intellectual Property Rights extended till last day of the basis period for YA 2025
• Reduced Partial tax exemption for companies (from YA 2020) Announced in previous Budget:

• Tax exemption scheme for new start-up companies (where any of the first 3 YAs falls in or after YA 2020)