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Budget 2022 – SMALL BUSINESS RECOVERY GRANT
18/02/2022
SMALL BUSINESS RECOVERY GRANT SMEs badly hit by Covid-19 will get $1,000 per local employee, up to $10,000 per company. $1,000 payout to local sole proprietors and partnerships in eligible sectors, and SFA-licensed hawkers, market and coffeeshop stallholders, who do not hire local employees. The Jobs Growth Incentive (JGI) will be extended to September 2022,… View Article
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Updates of Residential Addresses of Work Pass Holders
31/01/2022
Employers must keep the MOM informed of the residential addresses of their work pass holders via MOM’s Online Foreign Worker Address Service online system under the Employment of Foreign Manpower (Work Passes) Regulations. Changes in residential addresses must be updated in the system within five days of relocation. 175 firms fined over $1.1m in total… View Article
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New MAS guidelines for crypto trading
28/01/2022
Under new MAS guidelines, crypto trading should not be promoted to the public Feel free to contact us if you are needing financial consultancy or GST reporting services at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #MAS #Crypto
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Singapore raising GST bolsters case
27/01/2022
MAS may allow the appreciation of SGD against foreign currency in anticipation of the raising of GST. Singapore raising GST bolsters case for MAS to tighten policy: Analysts Feel free to contact us if you are needing financial consultancy or GST reporting services at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions… View Article
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The Corporate Registers (Miscellaneous Amendments) Act
26/01/2022
On 10 Jan 2022, the Corporate Registers (Miscellaneous Amendments) Act was passed in Parliament, making amendments to the Companies Act and Limited Liability Partnerships (LLP) Act. Local and foreign companies and LLPs in Singapore will be required to keep a non-public register of nominee shareholders and their nominators, and to update their register within seven… View Article
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Jobs Support Scheme from 31 Dec 2021!
25/01/2022
JSS from 31 Dec 2021! About 24,400 employers, in sectors facing significant safe management restrictions, will receive payouts totaling over $400 million from 31 December 2021 under the Jobs Support Scheme (JSS) to support the wages of over 380,000 local employees. More details can be found at IRAS website. Feel free to contact us if… View Article
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Career Conversion Programme (CCP)
17/01/2022
The CCP for SME Executives helps PMETs to reskill and take on new job roles in SMEs, while supporting SMEs to recruit and train the right talent for their organisations. Newly-hired PMETs will undergo a 3 month programme, which includes a 3-day workshop and structured On-The-Job Training (OJT) at the hiring SME. Qualified employers can… View Article
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Govt moving on GST increase in Budget 2022
14/01/2022
Govt has to ‘start moving’ on GST increase in Budget 2022, as economy emerges from Covid-19: PM Lee Feel free to contact us if you are needing financial consultancy or GST reporting services at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #Secretarial #GST
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WAGE CREDIT SCHEME PAYOUTS IN MARCH 2022
13/01/2022
To support businesses in transformation and share productivity gains with workers, eligible employers can look forward to the next tranche of Wage Credit Scheme (WCS) payouts in March 2022. To qualify for the upcoming tranche of the WCS payouts, employers must: (a)Have given Singapore Citizen employees who earned a gross monthly wage of up to… View Article
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FREE AIS, IR8A & IR21 Webinar
13/01/2022
A very blessed new year to all of you! We have some good news for you! We are holding a FREE webinar – “Learn the basics and requirements for filing of AIS, IR8A & IR21 for businesses”. As employers, you will understand more about what to look out for when filing for your employees’ income… View Article
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Work from anywhere in the world?
07/01/2022
Rethink of legislation with new normal of Work-From-Home: The Big Read: Work from anywhere in the world? Easier said than done as regulations, policies play catch-up https://www.channelnewsasia.com/singapore/big-read-work-anywhere-rules-manpower-overseas-remote-2388406 Feel free to contact us if you are needing financial consultancy or secretarial services at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #Secretarial #WorkFromHome
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S’pore non-oil exports surge 24.2% in Nov’21
06/01/2022
Non-oil exports grew in Nov YTY mainly due to growth in segments such as personal computers, integrated circuits and disk media products, as well as specialised machinery, petrochemicals and primary chemicals. Singapore non-oil exports surge 24.2% in November, biggest jump in nearly 10 years Feel free to contact us if you are needing financial consultancy… View Article
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S’porean company director charged in Taipei
05/01/2022
S’porean company director charged in Taipei, allegedly ran investment ploy that earned $1.8m Feel free to contact us if you are needing financial consultancy or secretarial services at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #Secretarial #CaseStudy #Fines
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$250 FWL rebate extended until March 2022
04/01/2022
A $250 foreign worker levy rebate, due to expire in Dec 2021, will be extended until March 2022 for all work permit holders in the construction, marine shipyard and process sectors. Employers can consider using the rebate to retain existing workers and bring in work permit holders from lower-risk countries or regions. More details can… View Article
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Revised Late Penalty for Annual Lodgements
17/12/2021
With effect from 14 Jan 2022, there will be higher penalties for late filing of the annual lodgments by Singapore-incorporated companies, Variable Capital Companies and Limited Liability Partnerships. The penalty is $300 within the first 3 months after the due date or $600 if the lodgment is filed more than 3 months after the filing… View Article
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Inflationary pressure in the next 2-3 years
02/12/2021
Inflationary pressure is to be expected in the next 2-3 years. Singapore overall inflation rises to 3.2% in October, highest in more than 8 years Feel free to contact us if you are needing financial consultancy at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #Inflation #Economy
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The Third Rental Support Scheme Payout
30/11/2021
The third Rental Support Scheme payout, which will be equivalent to a month of rent for the period from Sept 27 to Nov 21, will be paid out to more than 40,000 tenants and owner-occupiers. This is to support businesses with rental costs incurred during the almost two-month long stabilisation phase that ended on 21… View Article
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Senior Worker Early Adopter Grant
13/11/2021
Companies can receive a maximum grant support of $5,000 per senior worker if they: raise their internal retirement age and re-employment age to 65 and 70respectively; commit to providing part-time re-employment opportunities to eligible workers upon their request; and adopt the Tripartite Standard on Age-friendly Workplace Practices. Companies will be required to make changes to… View Article
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New statutory retirement and re-employment age
12/11/2021
On 1 July 2022, the retirement age of Singaporean workers will be raised to 63 and the re-employment age to 68. Per Dr Tan See Leng, “under this (statutory retirement and re-employment age) framework, employers cannot terminate an employee on grounds of age before the statutory retirement age. Workers have the assurance of continued employment… View Article
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Important updates proposed to CPF Act
11/11/2021
Important updates proposed to CPF Act Need assistance with your payroll and CPF lodgements? Approach us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #CPF #HR #Employment
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