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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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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
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Covid-19 (Temporary Measures) Act ends on Sept 30
30/09/2021
Contract disputes expected to increase when the relief period under the Covid-19 (Temporary Measures) Act ends on Sept 30. Contractors may face contractual disputes, claims as Covid-19 legal respite ends 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… View Article
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Should live voting at virtual meetings be made compulsory?
29/09/2021
Should live voting at virtual AGMs & EGMs be made compulsory? The study on “The Singapore Report on Shareholder Meetings: The Rise of Virtual Meetings” by NUS Business School professor of accounting Mark Yuen Teen found that only one out of 581 issuers which held virtual meetings in 2020 had live Q&A and live voting…. View Article
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Jobs Growth Incentive scheme extended to March 2022
29/09/2021
Jobs Growth Incentive scheme to spur hiring of Singaporeans extended to March 2022 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 #JGI #JobsGrowthIncentives
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Work-from-home will be the default from 27 Sep 2021
28/09/2021
From 27 September 2021, work-from-home will be the default at workplaces. Employers must ensure that employees who are able to work from home do so. Those who are able to work from home but need to return to the workplace for ad-hoc reasons are strongly encouraged to perform an Antigen Rapid Test (ART). They should… View Article
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JSS payouts from 30 Sep 2021
28/09/2021
From 30 Sep 2021, more than 43,900 employers will receive JSS payouts under the Jobs Support Scheme (JSS) to support the wages of over 570,000 local employees. $900m in JSS payouts to support wages of more than 570,000 workers from Sept 30 Feel free to contact us if you are needing financial consultancy at +65… View Article
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Increase CPF contribution rate to strengthen retirement adequacy
24/09/2021
The CPF contribution rates for employees aged above 55 to 70 will be increased by 1.5-2% with effect 1 JAN 2022 to strengthen their retirement adequacy. This will impact the take-home nett salary of employees in this age range as well as the labour costs to the employers. There are no changes to the graduated… View Article
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Firms to notify MOM of any retrenchment
23/09/2021
New requirement!!! With effect 1 Nov 2021, firms with at least 10 employees will have to notify the Ministry of Manpower (MOM) each time they retrench any staff. Companies can notify MOM of retrenchments via its website by submitting information including the size of the workforce before retrenchment and the details of the affected worker,… View Article
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SNAP WFH Arrangements
22/09/2021
Starting on 22 Sep 2021, a snap WFH regimen will be implemented only if three or more employees working in the same premises test positive for Covid-19 within a period of seven straight days. The duration of enforced WFH – for workers who are able to work from home – will also be cut down… View Article
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Progressive Wage Model (PWM)
09/09/2021
Recommendations for Progressive Wage Model (PWM) for lower-income workers will be rolled out by 2023. The higher wages for low-wage workers are expected to lead to higher prices for goods and services for consumers. The PWM measures will be rolled out in phases from Sept 1, 2022 and March 1, 2023. Feel free to contact… View Article
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