Ng Shi Xuan on Finance (Income Taxes) Bill
The proposed amendments provide useful support for businesses and working families, and the government should ensure that the benefits also reach young and small firms with limited profits, as well as families whose care needs extend beyond the formal school day, said MP Ng Shi Xuan. Speaking in parliament on Tuesday (Oct 6), he highlighted the need to guard against an enterprise gap in AI adoption, as larger and profitable firms are more able to invest upfront and make immediate use of the tax deduction. He wanted to know why AI expenditure has been excluded from the cash payout option and asked if the government could consider a capped dollar-for-dollar matching grant for qualifying AI expenditure by eligible startups.
The proposed amendments provide useful support for businesses and working families, and the government should ensure that the benefits also reach young and small firms with limited profits, as well as families whose care needs extend beyond the formal school day, said MP Ng Shi Xuan. Speaking in parliament on Tuesday (Oct 6), he highlighted the need to guard against an enterprise gap in AI adoption, as larger and profitable firms are more able to invest upfront and make immediate use of the tax deduction. He wanted to know why AI expenditure has been excluded from the cash payout option and asked if the government could consider a capped dollar-for-dollar matching grant for qualifying AI expenditure by eligible startups.
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