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Laws to be amended to boost governance
12/10/2022
S’pore to amend laws on business trusts to boost governance Contact us for professional advice at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #Laws #Governance
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Sharing of certain tax information without consent
11/10/2022
Taxman will be allowed to share certain tax information on firms without getting consent Contact us for professional and tax advice at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #Tax
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CHALLENGES OF REMOTE WORKING – OVERCOMED!!
22/09/2022
Post-Covid, Remote or Hybrid working is here to stay. So are the challenges that ensue. For Businesses, Holding meetings with half the team on site and half the team on screens can be challenging Remote working can be detrimental to inclusion and a teaming company culture. For the Employees, They may start to feel socially… View Article
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Gold Investment Ponzi Scheme
20/09/2022
Jail for 2 ex-directors who pocketed over $1.2m in their firm’s gold investment Ponzi scheme Contact us for professional advice at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #Ponzi
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Corporate Service Providers (CSP) Bill
26/08/2022
A new Corporate Service Providers (CSP) Bill is going to be implemented soon. With the introduction of the new CSP Bill, the Government will require nominee directors and shareholders to disclose their nominee status and the identity of their nominators to ACRA and for ACRA to maintain such information. Upon disclosure to ACRA, the nominee… View Article
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Start Digital Initiative
10/08/2022
As announced by IMDA and EnterpriseSG, the Start Digital initiative, which provides foundational digital solutions for small and medium-sized enterprises (SMEs) that are new or have yet to go digital, is being extended for 3 years through 2025, with simplified solution categories. Contact us for professional advice at +65 66363691, +65 9326 2271 or info@lnmsolutions.com!… View Article
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FREE webinar on GST rate change
29/07/2022
We have some good news for you! We are holding a FREE webinar on GST rate change, details as below: Date: 12 Aug 2022 (Fri) Time: 10.30am – 11.30am Venue: Webinar via Zoom Description: – The essentials to prepare for GST rate change – Practical tips and considerations arising from a GST rate increase –… View Article
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MAS to broaden scope of crypto rules
28/07/2022
The Monetary Authority of Singapore (MAS) is targeting to consult on its proposed measures around September or October this year to broaden the scope of cryptocurrency regulations to cover more activities and possibly tighten retail investors’ access to the digital tokens. Singapore will likely see an increase in the number of entities that require licensing…. View Article
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Senior Worker Early Adopter Grant
21/07/2022
The Retirement and Re-Employment Age in Singapore has been raised to 63 and 68 respectively on 1 July 2022. These will be raised to 65 and 70 respectively by year 2030. Companies can look into applying for Senior Worker Early Adopter Grant. This grant aims to incentivise and encourage companies to raise their own internal… View Article
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Delay in implementation of the global minimum tax
20/07/2022
Delay in implementation of the global minimum tax. The global tax revolution for tech giants is delayed to 2024
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Raising of CPF rates for senior workers
09/07/2022
To strengthen senior workers’ retirement adequacy, the Tripartite Workgroup on Older Workers recommended the CPF contribution rates for senior workers aged above 55 to 70 years to be raised gradually to boost their retirement incomes. The next CPF rate raised for this age group will take place with effect from 1 Jan 2023. Contact us… View Article
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MAS core inflation is projected to average 2.5–3.5%
08/07/2022
MAS core inflation is projected to average 2.5–3.5% in 2022. Are you managing your costs and cashflow adequately? Do you have timely financials for your business planning? Contact us for professional advice at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #MAS #Inflation
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Director who evaded paying over $1m in GST fined & jailed
07/07/2022
Need professional and affordable help to properly declare your GST? Please contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! Director of freight forwarding company who evaded paying over $1m in GST fined $4.4m, jailed #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions #GST #Fines
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Jail for director who evaded S$172k in taxes
28/06/2022
Report your taxes promptly and accurately. Contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com for assistance. Jail for company director who evaded S$172,000 in taxes, spent ill-gotten gains on new condo and car #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions
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Man misappropriating over $1.7m from employer
24/05/2022
Need to outsource your accounting function? Contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! Man admits to misappropriating over $1.7m from employer #cheapcorporatesecretarial #cheapaccounting #corporatesolutions #LNMSolutions
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Additional Buyer’s Stamp Duty (ABSD)
18/05/2022
Transfers of residential properties into a living trust will be subject to an additional buyer’s stamp duty (ABSD) of 35 per cent with effect from 9 May 2022. A living trust is created by an individual during his lifetime, where a designated person, the trustee, is given responsibility of managing that individual’s assets for the… View Article
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Shared Services Grant for Charities & IPCs
10/05/2022
Good news for you! You can now apply for the Shared Services Grant under the Charities Capability Fund (CCF) (formerly known as VWOs-Charities Capability Fund (VCF)) which provides co-funding of up to 50% for charities to outsource your corporate functions such as payroll, finance, accounting, human resource and information technology functions to third-party service providers… View Article
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Tighter criteria for family offices to get tax incentives
26/04/2022
Tighter criteria for family offices in S’pore to get tax incentives 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 #FamilyOffices #Section13O
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Wage Credit Scheme payouts by end-March 2022
30/03/2022
The final tranche of payouts under the Wage Credit Scheme (WCS) will be paid out by end-March 2022. By 31 Mar 2022, eligible employers will be notified of their payout amount and have their payouts credited directly to their accounts through PayNow Corporate or GIRO. The government extended the WCS by 1 year for Budget… View Article
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Annual Tax Relief for CPF Top Up
29/03/2022
With effect from 1 January 2022, an individual can enjoy annual tax relief of: up to $8,000 (previously $7,000) when one tops up to one’s own Special/Retirement Account and/or MediSave Account; AND- an additional tax relief of up to $8,000 (previously $7,000) when you top up your loved ones’ Special/Retirement Account and/or MediSave Account. More… View Article
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