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Tag Archives for " IRAS "

Public Consultation on Parent Relief Claim

According to IRAS, there are about 3000 cases of siblings quarreling over their parent relief claim every year. The Inland Revenue Authority of Singapore (IRAS) is conducting a public consultation exercise to gather views from members of the public on how parent relief should be allowed. The exercise will run from 13 Jun to 26 […]

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Of Zero Earnings and Perpetual Losses

The other day, I heard someone say this: “My company has not been making money. It is just breaking even every year.” Fair enough statement. However, the person went on to say that whenever there is a profit, all of it will be paid to him as director fees. Thus, the company will never show […]

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No Change to Singapore Property Sales Tax Framework

Under a proposal put up earlier by MOF, they suggested that individuals who sold their properties would be certain that the gains they made would not be subject to income tax if they had not sold any other properties in the preceding four years. After a public consultation exercise, the idea has been dropped. The […]

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