On 18 February 2019, the Finance Minister of Singapore delivered the Budget for 2019. The main tax-related measures are summarized below:

  • To maintain support to companies in their automation, productivity and scale-up efforts, the 100% Investment Allowance under the Automation Support Package will be extended by two years, for projects approved by Enterprise Singapore from 1 April 2019 to 31 March 2021. The approved capital expenditure will remain capped at S$10m (US$7.4m) per project
  • The income tax concessions for Singapore-listed Real Estate Investment Trusts (S-REITs) will be extended till 31 December 2025 and the sunset clause will be removed for the tax exemption on S-REITs distributions received by individuals.
  • The income tax concessions for Singapore-listed Real Estate Investment Trusts Exchange-Traded Funds (REITs ETFs) will be extended till 31 December 2025 and the sunset clause will be removed for the tax exemption on REITs ETFs distributions received by individuals.
  • The GST remission for S-REITs and Singapore-listed Registered Business Trusts (RBTs) in the infrastructure business, ship leasing and aircraft leasing sectors will be extended till 31 December 2025.
  • The Tax Incentive Schemes for Funds Managed by Singapore-based Fund Managers (Qualifying Funds) will be extended till 31 December 2024 and certain aspects of the schemes will be refined to keep the schemes relevant and to ease the compliance burden.