How are your business income taxed?
In this section, you will gain a brief understanding on how business income generated are taxed. It is important to appreciate whether the income stream is taxable for the purpose of tax calculations. Basis of Determining if an Income Stream is Taxable A company is liable to pay tax on income accrued in or […]
Knowing what are deductible and non-deductible expenses
In this section, you will gain a brief understanding on how to identify if a business expense is considered tax deductible expense or a non-deductible expenses (disallowed expenses). It is important to know that not all expenses that are taken up in your accounting books can be allowed for tax deductions. Basis of Determining […]
Allowances and Deductions
In this section, you will be introduced to common tax policies and tax treatments relating to some of the most common company transactions. These tax benefits are in addition to the deductible expenses discussed in our previous article: Knowing what are deductible and non-deductible expenses. Common Allowance and Deductions that you should be aware […]
Corporate Tax Submission Deadlines
In this section, you will learn when you need to submit your corporate tax filings. Tax Submission Deadlines at a Glance for Companies We have presented your deadlines based on your Financial Year End (FYE), just look at the line that is applicable to you and remember to get your taxes sorted before these dates! […]
What happens if I am late for my Corporate Taxes?
In this section, you will learn about the effects of late filing of taxes and what you should do. You are late for your Form C/C-S tax submission. What will happen? We have classified the late filing procedures into 4 main phases for you. In the unfortunate event that your tax filing is late, it […]
Singapore Personal Tax Rates
Personal Income Tax Rates for Residents The personal income tax system for Tax Residents in Singapore is based on a progressive tax system. This means that a different tax rate is charged progressively as income increases. Simply put, your annual personal income will be divided into different income bands with a progressive tax rate attached […]
Understanding Personal Tax in Singapore
Personal Income Tax Rates for Residents The personal income tax system for Tax Residents in Singapore is based on a progressive tax system. This means that a different tax rate is charged progressively as income increases. Simply put, your annual personal income will be divided into different income bands with a progressive tax rate attached […]
Tax Resident Vs Non Residents
How Do I Know if I am a Tax Resident or a Non Resident? You will be considered as a Tax Resident if you work in Singapore for 183 days or more. You will be considered as a Non Resident if you work in Singapore for less than 183 days. Concessions to 183 day […]
Tax Reliefs
Types of Reliefs Available Tax Reliefs can be categorized into 3 main categories: General Reliefs available to all taxpayers Additional Reliefs/Rebates available to married/divorced/widowed male taxpayers Additional Reliefs/Rebates available to married/divorced/widowed female taxpayersGeneral Reliefs include: Course fees relief CPF cash top-up relief CPF Relief: For employees only CPF Relief: For self-employed/employee who is also […]
