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Budget 2024–Changes to Personal Reliefs /CPF
09/04/2024
Singapore Budget 2024 Changes to Personal Reliefs / CPF: Increase in Enhanced Retirement Sum (ERS) Starting from 2025, the ERS will be increased from 3 times the Basic Retirement Sum (BRS) to 4 times. This adjustment will enable CPF members to receive higher monthly payouts for life, providing greater financial security during retirement. Closure of… View Article
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Budget 2024 – SkillsFuture Credits
09/04/2024
The new SkillsFuture Level-Up Programme has been launched!!! This programme provides greater structural support for mid-career Singaporeans aged 40 years and above to pursue a substantive skills reboot and to stay relevant in a changing economy. From 1 May 2024, the SkillsFuture Credit (Mid-Career) top-up of $4,000, which does not expire, can further offset out-of-pocket… View Article
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Cybersecurity (Amendment) Bill
09/04/2024
Changes proposed to the Cybersecurity (Amendment) Bill: Essential services providers to meet higher cyber-security standards under proposed law amendment Contact us for professional advice at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions
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List of non-taxable govt services to be published after $7.5m in GST wrongly collected
05/04/2024
Govt to provide list of fees for which GST will not be charged, after $7.5m in GST was wrongly collected List of non-taxable govt services to be published after $7.5m in GST wrongly collected Contact us for professional advice at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions
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Retirement Age Raised to 64 in 2026
07/03/2024
Employers who provide matured workers with part-time jobs after they reach retirement age can access Part-Time Re-employment Grant of up to $125,000, and thus grant can also be used to access career training for these workers. Senior Employment Credit scheme also offsets wages for workers aged 60 and above. S’pore retirement age to go up… View Article
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Money laundering using shell companies
07/03/2024
Money laundering using shell companies: Shell companies in S’pore linked to money laundering operation in India Contact us for professional advice at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #moneylaunderingcase
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IRAS (Amendment) Bill
01/03/2024
Under the new IRAS (Amendment) Bill passed recently, the amendments grant IRAS the powers of: – administering scheduled public schemes for the Government, or any other statutory body. – investigating fraud and abuse and – recovering grant funds that were disbursed wrongly. The new powers will allow it to access premises, conduct… View Article
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S’pore keeps 2024 growth forecast
27/02/2024
Low growth forecast for Singapore for 2024, as expansion in 2023 slowed to 1.1%. Singapore keeps 2024 growth forecast at 1%-3% as economy slows to 1.1% expansion in 2023 Contact us for professional advice at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #GrowthForecast
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S’pore key exports to rebound in 2024
26/02/2024
Singapore key exports expected to grow in 2024 as her key trading partners, China, the US and the Asean-5 – Indonesia, Malaysia, the Philippines, Singapore and Thailand – are expected to see growth pick up. Singapore key exports to rebound in 2024 after 13.1% fall in 2023 on weak global demand Contact us for professional… View Article
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Budget 2024 – Corporate Income Rate
25/02/2024
* Moving forward, pillar 2 of BEPS 2.0 – an OECD project where more than 140 countries agree to bring the minimum effective tax rate of large corporates to 15% – will be implemented. * Currently, the headline corporate income rate is 17% in Singapore, but some investors pay an effective rate that is as… View Article
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