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More parental leave for working parents
22/08/2024
National Day Rally 2024: More parental leave for working parents – What you will get and when Credit: CNA Contact us for professional advice at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions
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National Day Rally 2024: Key Announcements
21/08/2024
Credit: CNA Contact us for professional advice at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions
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Strengthen SG’s Corporate Regulatory&Anti-Money Laundering Regimes
02/08/2024
Strengthening SG’s Corporate Regulatory and Anti-Money Laundering Regimes On 2 July 2024, Parliament passed the following Bills: ACRA (Registry and Regulatory Enhancements) Bill Corporate Service Providers Bill Companies and Limited Liability Partnerships (Miscellaneous Amendments) Bill Contact us for professional advice at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions
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New tripartite guidelines for flexible work arrangements
24/04/2024
With effect 1 Dec 2024, new tripartite guidelines for flexible work arrangements will be in force. The guidelines define three types of flexible work arrangements: “Flexi-place” arrangements where employees can work from locations outside the office. This includes telecommuting and working from home. • “Flexi-time” arrangements where employees can work at different timings with no… View Article
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S’pore — the choice as business hub in Asia
23/04/2024
Singapore — the choice as business hub in Asia How Singapore Became Asia’s go-to hub for start-ups Contact us for professional advice at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions
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Budget 2024–Changes to Personal Reliefs /CPF
10/04/2024
Budget 2024 – Changes to Personal Reliefs / CPF Enhancements to Workfare Income Supplement Scheme (WIS) Qualifying income cap and payouts for the WIS will be raised from 2025 to ensure continued support for lower-wage workers. Increase in Income Threshold for Tax Relief The income… View Article
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Budget 2024–Changes to Personal Reliefs /CPF
09/04/2024
Singapore Budget 2024 Changes to Personal Reliefs / CPF: Increase in Enhanced Retirement Sum (ERS) Starting from 2025, the ERS will be increased from 3 times the Basic Retirement Sum (BRS) to 4 times. This adjustment will enable CPF members to receive higher monthly payouts for life, providing greater financial security during retirement. Closure of… View Article
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Budget 2024 – SkillsFuture Credits
09/04/2024
The new SkillsFuture Level-Up Programme has been launched!!! This programme provides greater structural support for mid-career Singaporeans aged 40 years and above to pursue a substantive skills reboot and to stay relevant in a changing economy. From 1 May 2024, the SkillsFuture Credit (Mid-Career) top-up of $4,000, which does not expire, can further offset out-of-pocket… View Article
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Cybersecurity (Amendment) Bill
09/04/2024
Changes proposed to the Cybersecurity (Amendment) Bill: Essential services providers to meet higher cyber-security standards under proposed law amendment Contact us for professional advice at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions
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List of non-taxable govt services to be published after $7.5m in GST wrongly collected
05/04/2024
Govt to provide list of fees for which GST will not be charged, after $7.5m in GST was wrongly collected List of non-taxable govt services to be published after $7.5m in GST wrongly collected Contact us for professional advice at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions
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Retirement Age Raised to 64 in 2026
07/03/2024
Employers who provide matured workers with part-time jobs after they reach retirement age can access Part-Time Re-employment Grant of up to $125,000, and thus grant can also be used to access career training for these workers. Senior Employment Credit scheme also offsets wages for workers aged 60 and above. S’pore retirement age to go up… View Article
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Money laundering using shell companies
07/03/2024
Money laundering using shell companies: Shell companies in S’pore linked to money laundering operation in India Contact us for professional advice at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #moneylaunderingcase
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IRAS (Amendment) Bill
01/03/2024
Under the new IRAS (Amendment) Bill passed recently, the amendments grant IRAS the powers of: – administering scheduled public schemes for the Government, or any other statutory body. – investigating fraud and abuse and – recovering grant funds that were disbursed wrongly. The new powers will allow it to access premises, conduct… View Article
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S’pore keeps 2024 growth forecast
27/02/2024
Low growth forecast for Singapore for 2024, as expansion in 2023 slowed to 1.1%. Singapore keeps 2024 growth forecast at 1%-3% as economy slows to 1.1% expansion in 2023 Contact us for professional advice at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #GrowthForecast
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S’pore key exports to rebound in 2024
26/02/2024
Singapore key exports expected to grow in 2024 as her key trading partners, China, the US and the Asean-5 – Indonesia, Malaysia, the Philippines, Singapore and Thailand – are expected to see growth pick up. Singapore key exports to rebound in 2024 after 13.1% fall in 2023 on weak global demand Contact us for professional… View Article
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Budget 2024 – Corporate Income Rate
25/02/2024
* Moving forward, pillar 2 of BEPS 2.0 – an OECD project where more than 140 countries agree to bring the minimum effective tax rate of large corporates to 15% – will be implemented. * Currently, the headline corporate income rate is 17% in Singapore, but some investors pay an effective rate that is as… View Article
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Additional buyers’ stamp duties
24/02/2024
Budget 2024 – Additional buyers’ stamp duties for property developers * “Some flexibility” will also be accrued to the ABSD regime for housing developers. Currently, developers are granted an ABSD remission if they sell all units in their development by a deadline. For those who can’t sell all their units, they are subject to a… View Article
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Budget 2024 – Personal income tax rebates
24/02/2024
* There will be a personal income tax rebate of 50% for the AY 2024, capped at S$200. * Currently, taxpayers may also claim a range of dependent-related tax reliefs, if the dependants have an annual income of S$4,000 or less. This threshold will be raised to S$8,000 with effect from AY 2025. Contact us… View Article
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Budget 2024 – Employment Matters
23/02/2024
* CPF Contribution Rates will increase by 1.5 percentage points for those aged 55 to 65. *From 2025 onwards, the government will raise the maximum amount members can put into their CPF RA to receive higher CPF payouts. * The government’s CPF Transition Offset for employers will also be extended by another year to cover… View Article
Read MoreBudget 2024 – Employment matters
23/02/2024
* The qualifying income cap for the Workfare Income Supplement scheme will be raised from S$2,500 to S$3,000 to continue narrowing the income inequality gap. * Workfare payouts will be raised; lower-wage senior workers will qualify for a maximum annual payout of S$4,900, up from S$4,200. * The local qualifying salary, which is the lowest… View Article
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