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Compulsory Work Injury Compensation Insurance
21/12/2020
Business Owners and Employers, do you know that you are required to take up work injury compensation insurance for staff doing manual work and for non-manual work staff earning a salary of $2,100 or less a month, excluding any overtime payment, bonus payment, annual wage supplement, productivity incentive payment and any allowance? Contact us at… View Article
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250,000 workers saw a pay cut in 2020
21/12/2020
More paycuts this year for employees in Singapore due to pandemic-hit businesses. Needing HR consultancy on your business? You can contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! 250,000 workers saw a pay cut between March and September
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Some employers planning to scrap bonuses
21/12/2020
Year-end Bonuses for employees may be cut or reduced by some private sector companies. Needing HR consultancy on your business? You can contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! Some employers in Singapore planning to scrap staff bonuses this year
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MOM Investigation on Hiring Practices
18/12/2020
The Ministry of Manpower (MOM) barred employers with discriminatory hiring practices from hiring new foreigners or renewing the work passes of existing foreign staff for a period of time. Needing HR consultancy on your business? You can contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! More Singapore employers investigated for possible discriminatory hiring… View Article
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25% S’pore employers plans to freeze salaries
18/12/2020
Needing HR consultancy on your business? You can contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! 1 in 4 Singapore employers plans to freeze salaries in 2021: Survey
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S’pore economy to return to growth in 2021
18/12/2020
Singapore’s economy is expected to rebound in growth in 2021 due to very Low base in 2020. Needing financial consultancy on your business? You can contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! S’pore economy to return to growth next year, forecast at 4% to 6%
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iWorkHealth for health monitoring of employees
27/11/2020
An assessment tool iWorkHealth, which will be launched by MOM and made available to employers for free early next year, for health monitoring of employees. Needing consultancy on your business internal processes and controls? You can contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! MOM to work closely with employers to manage risk… View Article
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New Tech.Pass to launch in January 2021
27/11/2020
New work pass, Tech.Pass, will be launched in Jan 2021, to attract highly skilled technology professionals in fields such as e-commerce, artificial intelligence and cyber security to Singapore. Tech.Pass will be valid for two years, with a one-time renewal for a subsequent two years that will depend on certain criteria. Applications for the pass will… View Article
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Rise in restructuring & insolvency activities
20/11/2020
The Singapore market has seen a rise in restructuring and insolvency activities amid the Covid19 environment. S’pore well-placed to meet rise in debt restructuring demand amid Covid-19
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New features MyCareersFuture job portal
20/11/2020
New features on national job portal, MyCareersFuture, to strengthen progressive hiring practices among employers: Prompting employers to adhere to TGFEP when placing job advertisements An “Employer Prompt” feature reminds employers to adhere to the Tripartite Guidelines on Fair Employment Practices (TGFEP) when crafting job postings, and before they are published on MyCareersFuture. Better guidance for… View Article
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Further development on the Hin Leong’s case
16/11/2020
Further development on the Hin Leong’s case : Needing consultancy on your business internal processes and controls to prevent fraud, misappropriation and pilferage? You can contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! HSBC sues Lim family, saying they ‘fraudulently deceived’ bank into lending US$111.7 million to Hin Leong
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Jobs Support Scheme not subject to income tax
16/11/2020
Employers who have received wage subsidies under the Jobs Support Scheme (JSS) will not have to pay income tax on the subsidies for YA 2021 and YA2022. We can help you with accurate and proper CPF, AIS and tax filings. Contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! Employers don’t have to pay… View Article
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Goods and Services Tax (GST) Act Updates
13/11/2020
Parliament passed several updates to the Goods and Services Tax (GST) Act on Tuesday (Nov 3), including giving tax enforcement officers greater powers to seize goods when investigating tax crimes, especially Missing Trader Tax Fraud. We can help you with accurate and proper GST filings. Contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com!… View Article
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Penalty for failing to register GST
13/11/2020
We can help you with accurate and proper GST filings. Contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! Mobile phone seller first to be charged with failing to register GST for online sales
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Covid-19 (Temporary Measures) Act Amendments
13/11/2020
Small businesses affected by Covid-19 may terminate their contracts without penalty if they are unable to agree on new terms with the other party, under proposed laws under the third set of proposed amendments to the Covid-19 (Temporary Measures) Act introduced in Parliament on Monday (Nov 2). Needing financial consultancy on your business? You can… View Article
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Heavier fines for data breaches
12/11/2020
Needing consultancy on your business internal processes and controls to prevent data breaches? You can contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! Parliament: Heavier fines for data breaches, more support for legitimate business uses of data under amended PDPA
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New schemes to help restructure debt
12/11/2020
2 schemes rolled out to assist SMEs hit by Covid-19 restructure debt: Sole Proprietors and Partnerships (SPP) Scheme Extended Support Scheme Needing financial consultancy on your business? You can contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! See links below for more details: https://www.singaporelawwatch.sg/Headlines/2-new-schemes-to-help-SMEs-hit-by-Covid-19-restructure-debt
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Long Road of Recovery from Covid-19
09/11/2020
Recovery of economy is presently not clearly in the horizon yet. Businesses especially dependent on domestic market have to brace for a long road to recovery ahead. Needing financial advisory on your company’s financial situation? Contact us +65 66363691, +65 9326 2271 or info@lnmsolutions.com! Singapore economy will take longer to recover from Covid-19 crisis than… View Article
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Tax Revenue up over FY2019, but drop expected
06/11/2020
Need advisory on your tax matters? Contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! Tax revenue up over FY2019, but analysts say income tax, GST collections expected to drop next year
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Q3 office rents in Singapore fall 4.5%
06/11/2020
Rentals of offices are sliding downward this year with more WFH arrangements being encouraged. You can also contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com for free 15-minute business backoffice advisory!! We will love to help. Q3 office rents in S’pore fall 4.5%, the steepest in 11 years
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