The historical YA and three submission points
The form specifically concerns enhanced carry-back for YA 2020 against up to three preceding YAs: 2017, 2018 and 2019. Submit after the accounting period but before the YA 2020 return, with that return, or within thirty days of its assessment notice. Estimated completion is ten minutes. This historical three-year arrangement should not be carried forward unchanged to every current YA.
Fields and estimated versus actual
Enter taxpayer name and tax reference number, source business/profession/vocation/partnership and ACRA UEN where applicable. Fillable menus choose estimated or actual allowances and losses. State unabsorbed capital allowances and unabsorbed trade losses separately. For multiple businesses give totals plus each source’s name, UEN and separate amounts in an attachment.
The capital-allowance declaration
Part 2(c) declares carrying on the same trade, business or profession in the basis periods for YAs 2017, 2018 and 2019. This sentence concerns the capital allowances granted for that activity. The form itself does not set out all eligibility rules or every allocation calculation, so choosing a period must still be consistent with the applicable enhanced-relief conditions.
Evidence at S$500,000 revenue or more
Before filing YA 2020, attach revised computations for YAs 2017, 2018 and 2019. During or after filing, also attach finalised certified YA 2020 accounts and its computation. The Part 3 threshold includes exactly S$500,000 and governs this document requirement; it is not a printed ceiling on the carry-back amount.
Partners, provisional accounts and capital
Partners must ensure the precedent partner has submitted certified accounts, the tax computation and their share of YA 2020 allowances/losses. If not finalised at election, provisional accounts and computation may be submitted. LLP and LP partners also require their contributed-capital amount at the end of the YA 2020 accounting period. These qualifications are in the footnote and should accompany the main checkbox instructions.
Final declaration and revision of estimates
Accept irrevocability, certify truth and correctness, and provide signature, election date and contact number. The form warns of penalties for false or incorrect declarations. Relief granted from estimated amounts is revised on actual YA 2020 filing. No numerical overall carry-back cap is printed in this particular page, so the form’s document threshold should not be repurposed as one.
Official source
This article independently explains the substantive contents of the official PDF, including the relevant conditions, procedures and annexes. The linked document remains the authoritative source for its original wording, and later changes should be checked separately.
Read the official PDF ↗