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Members of the public who have subscribed to Data Register Pte Ltd’s services after receiving its letters sent in October and November 2013 are reminded that the offer which commenced on 29 February 2016, will expire this Friday, 11 March 2016. ACRA strongly urges these subscribers to respond to Data Register Pte Ltd’s offer if they now wish to terminate their account. Data Register Pte Ltd has stated that it will be the final such offer made by them.

 

Click HERE for more info!

 

Source: ACRA

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The Inland Revenue Authority of Singapore (IRAS) has introduced several enhancements for Individual Income Tax Season 2016 which runs from 1 Mar to 18 Apr 2016.

Filing taxes on-the-go optimised for smartphones New
Interactive personal relief tool for immediate eligibility checks New
Pre-filled rental expenses for tenanted residential properties New

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Employers are reminded to make CPF Contributions for employees by 14 Jan 2016 to receive Wage Credit Scheme payouts.

 

Employers of eligible Singaporean employees are reminded to make the full CPF contributions for these employees by 14 January 2016 in order to receive the third tranche of Wage Credit Scheme (WCS) payouts in March 2016.

 

To qualify for the third tranche of the WCS payout, employers must fulfil the following conditions:

• Have given Singaporean employees a wage increase of at least $50 in 2015 and/or have sustained the wage increases (at least $50) previously given to employees in 2014 and 2013; and

• Have paid the employees’ mandatory CPF contributions for 2015 wages to CPF Board by 14 January 20161.

 

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ACRA had brought a total of 1,104 charges against Data Register Pte Ltd (previously known as “Company Register Pte Ltd”) in 2014/15 for issuing business correspondences in October and November 2013 which did not state its company name and registration number in breach of section 144(1)(b) and section 144(1)(A) of the Companies Act (“the 2013 correspondences”).

Since November 2013, ACRA has issued media releases and public announcements to inform the public on this matter and explained that the purpose of section 144 is to ensure that members of public are aware of the identity of the corporate entity that issued the letter in question. Members of the public were also urged to conduct a free search on ACRA’s online business directory to check information such as the name, registration number, address and status of any company registered with ACRA.

 

Click HERE for more info!

 

Source: ACRA

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From 1 January 2016, the CPF contribution rates will be increased for employees aged above 50 to 65 years. This change will affect employees who are Singapore Citizens, third year and onwards Singapore Permanent Residents (SPRs) and first or second year SPRs contributing to CPF at full rates or full employer-graduated employee rates.

 

The CPF Ordinary Wage Ceiling will also be raised from $5,000 to $6,000. The Additional Wage Ceiling will therefore be increased from $85,000 to $102,000. These two changes will apply to all employees.

 

Source: CPF Board