The Inland Revenue Authority of Singapore (IRAS) has updated its guidance on Unutilised Items (Capital Allowances, Trade Losses & Donations) with the launch of FormSG for Waiver of Shareholding Test Applications. Subject to qualifying conditions, unutilised capital allowances and trade losses can be carried forward indefinitely, while unutilised donations can be carried forward for up to 5 Years of Assessment (YAs). The main condition is that a company satisfies the shareholding test, w…