Uncategorized
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
Read More
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
Read More
$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
Read More
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
Read More
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
Read More
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
Read More
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
Read More
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
Read More
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
Read More
Back to Office Requirements from 1 Jan 2022
05/11/2021
From Jan 1 next year, staff who return to the workplace must be fully vaccinated or have recovered from Covid-19 in the past 270 days, as per MOH recent announcement. 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 #Covid19 #Vaccination… View Article
Read More
Enhanced Supports for Stabilisation Phase
28/10/2021
The Jobs Support Scheme at 25 per cent will be extended until 21 Nov 2021 for sectors significantly affected by the continuing tightened measures in the Stabilisation Phase. The affected sectors include F&B, retail, cinemas, museums, art galleries, historical sites, family entertainment, tourism, gyms and fitness studios, performing arts and arts education. Eligible tenant-occupiers and owner-occupiers… View Article
Read More
Interesting development in Australia
26/10/2021
Australia tables laws to allow companies to switch to online AGMs permanently 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 #AGM #VirtualAGM
Read More
Are you needing help with your GST returns?
20/10/2021
Are you needing help with your GST returns? Call us, your professional help is just one call away! You can reach us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! Sole Proprietor to pay $977,898 in Penalties for Submitting Incorrect GST and Income Tax Returns #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #GST
Read More
The Goods and Services Tax (Amendment) Bill
18/10/2021
The Goods and Services Tax (Amendment) Bill that will likely be introduced from 1 Jan 2023, will see GST imposed on low-value goods worth $400 or less imported by air or post. GST will also be imposed on business-to-consumer imported non-digital services such as live interaction with overseas providers of educational learning and telemedicine. Currently,… View Article
Read More
Retirement age will be raised from 62 to 63
15/10/2021
ALL EMPLOYERS TO NOTE!! With effect from 1 July 2022, the retirement age in Singapore will be raised from 62 to 63, and the re-employment age from 67 to 68. This is part of a gradual increase that will ultimately set the retirement age at 65 and the re-employment age at 70 by 2030. In… View Article
Read More
Second Rental Support Scheme (RSS) payouts
07/10/2021
Second Rental Support Scheme (RSS) payouts to be disbursed from 22 September 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 #RentalSupoprt #RSS
Read More
Updates on the Productivity Solutions Grant
06/10/2021
Great NEWS for SMEs!!! The Productivity Solutions Grant – which defrays up to 80 per cent of the cost of funding digital solutions – will be expanded from Oct 2021 to include digital marketing solutions. This grant scope expansion is to assist SMEs to capture new growth opportunities and markets, and to be more efficient…. View Article
Read More
Real-time cross-border fund transfers via phones
05/10/2021
By end of next year, Singapore and Malaysia consumers will be able to make real-time cross-border fund transfers using their mobile phones via the PayNow-DuitNow linkage, as announced by the 2 countries’ Central Banks recently. In July 2022, PayNow will be linked with India’s Unified Payments Interface (UPI) real-time payment system. Feel free to contact… View Article
Read More
Great challenge faced by construction industry
01/10/2021
Great challenge faced by construction industry in present times: ‘Things just went south’: Construction firms under pressure as pandemic bites deep 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 #Covid19 #TemporaryMeasuresAct #Construction
Read More
Guidelines for ART-positive Employees
30/09/2021
The MTF announced on 17 September 2021 a revised approach of managing individuals who test positive on the Antigen Rapid Test (ART) but are physically well (i.e. no evident symptoms like fever, cough, or runny nose). Such individuals are advised to self-isolate to monitor their health, instead of rushing to the nearest General Practitioner clinic… View Article
Read More