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Singapore Budget 2016 – A Summary For Companies & Businesses

PIC Cash Payout reduced to 40% (from 60%) for all purchases made after 1 August 2016 This was good while it lasted. But a 40% discount on IT related purchases is still generous! Corporate Income Tax (CIT) rebate increased to 50% (from 30%) If you have a tax payable of $1,000, pay only $500! Business […]

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Best SGD Bank Accounts For Start-Ups And Small Businesses

If you’re not sure which bank to use for your company, the main thing to consider is how you are going to operate the account – whether you are going to use mostly cheques or if you’re relying on e-banking. Unfortunately in Singapore, some banks are charging a fee for e-banking access, which is probably […]

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Get Up To $40K Work-Life Grant

The Ministry of Manpower (MOM) has a Work-Life Grant that comes in two parts: 1. Developmental Grant 2. Flexible Work Arrangement (FWA) Incentive So if you’re thinking of making arrangements for your staff to work from home or have flexible working hours so that they can spend more time with their families, help is at […]

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Itemised Payslips Compulsory from 1 April 2016

From 1 April 2016, all employers will be required to issue itemised payslips to employees covered under the Employment Act. The Ministry of Manpower has detailed requirements such as what items to include, when and how to give them. They’ve even helpfully provided templates for you to use here, and a link to a free […]

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