Blog
Occupational Progressive Wages (OPW)
23/03/2023
Occupational Progressive Wages (OPW) for administrators and drivers With effect from 1 March 2023, employers must meet the OPW requirements in order to renew existing work passes or apply for new work passes. The OPW requirements cover all Singapore citizens and permanent residents who are: Full-time or part-time employees in administrative or driving roles on… View Article
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S’pore banking system remains sound
22/03/2023
Closure of US banks is going to send ripples to financial system and the economy. S’pore banking system remains sound in wake of collapse of Silicon Valley Bank, Signature Bank in US: MAS Contact us for professional advice at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #US #Economy
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Government Grants reducing to 50% from 1 Apr 2023
09/03/2023
Kindly note that with effect from 1 April 2023, the following government grants will have government support reduced from 70% to 50%: Productivity Solutions Grant (PSG) e.g. purchase of ABSS, subscriptions to Xero/ Quickbooks Market Readiness Assistance Grant (MRA) Enterprise Development Grant (EDG) Applications that are submitted before 31 March 2023 will still be entitled… View Article
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New online calculator to check Budget 2023 benefits
07/03/2023
New online calculator for Singaporeans to check Budget 2023 benefits Contact us for professional advice at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #Budget2023
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BUDGET 2023 – CPF MONTHLY SALARY CEILING CHANGES
24/02/2023
BUDGET 2023 – CPF MONTHLY SALARY CEILING CHANGES With effect from 1 September 2023, the CPF monthly salary ceiling will go up by S$300 to S$6,300. It will increase to S$6,800 with effect from 1 January 2024 It will increase to S$7,400 from 1 January 2025 and rise to S$8,000 with effect from 1 January… View Article
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BUDGET 2023 – CHANGES TO WMCR
23/02/2023
BUDGET 2023 – CHANGES TO WORKING MOTHER CHILD RELIEF (WMCR) With effect 1 Jan 2024, there will be changes in WMCR to be on a fixed relief amount instead of the present % of mother’s earned income. There will be no change for WMCR claims on qualifying Singaporean children born or adopted before 1 Jan… View Article
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BUDGET 2023 – ENHANCE EMPLOYMENT SUPPORT
23/02/2023
BUDGET 2023 – ENHANCE EMPLOYMENT SUPPORT Enhance Progressive Wage Credit Scheme for lower-wage workers $2.4 billion top-up to the fund to maintain government’s co-sharing portion of eligible wage increases for low wage workers Enhance Enabling Employment Credit for persons with disabilities Support employers to hire persons with disabilities (PwDs) Enhanced wage offsets Longer duration for… View Article
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BUDGET 2023 – CHANGES TO CPF MEASURES
23/02/2023
BUDGET 2023 – CHANGES TO CPF MEASURES Provide CPF Transition Support to lower-income Platform Workers for increase in CPF contributions Increase CPF contribution rates for senior workers and provide CPF Transition Offset Increase minimum CPF monthly payout for seniors on Retirement Sum Scheme to $350 Increase CPF monthly salary ceiling from $6,000 to $8,000 by… View Article
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BUDGET 2023 – Introduction of Jobs-Skills Integrators
22/02/2023
BUDGET 2023 – Introduction of Jobs-Skills Integrators Integrators to bring together key players in selected sectors to develop industry-relevant training and facilitate job matching Integrators will link up industry, training and employment facilitation partners to optimize training and placement, as well as close skills gaps Training has to translate into tangible positive outcomes and better… View Article
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BUDGET 2023 – FAMILY-CENTRIC MEASURES
22/02/2023
BUDGET 2023 – FAMILY-CENTRIC MEASURES FOR EMPLOYERS TO NOTE!! Government-paid Paternity Leave increased from 2 weeks to 4 WEEKS with effect from 1 Jan 2024 the 2 weeks increase is on a voluntary basis Unpaid Infant Care Leave for all Singaporean children aged under 2 years, with effect from 1 Jan 2024 onwards increase Unpaid… View Article
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