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So far Daryl has created 269 blog entries.

I am the sole director and shareholder of the company, will I be taxed if I pay myself a director’s fee or salary?

This question was emailed to us at [email protected] A director is considered an employee of the company. Therefore, like every employee who receives payment, this is an expense to the company. If you consider the simple equation of: Profit = Revenue - Expenses You will see that if expenses increase, profit will decrease. Therefore, the [...]

By |2022-08-10T13:58:25+08:00August 10th, 2022|Questions and Answers|

Changes to Aspire’s pricing plan

For the last year, our company has been recommending Aspire to clients who are looking for a digital bank account. We wrote an article about digital banks which can be found here: https://www.singaporesecretaryservices.com/what-is-a-digital-bank/. The main draw for most was that Aspire's corporate account is free. There were no monthly or annual charges. Moreover, there were [...]

By |2022-08-01T12:51:31+08:00August 1st, 2022|Useful Incorporation Articles|

How to change your company secretary

Upon incorporation, companies must appoint a company secretary within six months. This is in accordance with section 171(4A) of the Companies Act which states: The office of secretary must not be left vacant for more than 6 months at any one time. In most cases, the company secretary is filled by the corporate service provider [...]

By |2022-07-27T16:24:59+08:00July 27th, 2022|Running a Company, Uncategorized|

How do I execute a share buyback?

A company can return excess capital it might have to its shareholders through dividends, share capital reduction or share buybacks. In this article, we will be focusing on share buybacks, namely for private companies in Singapore. A share buyback is exactly what it says. A company is buying back its own shares. Instead of the [...]

By |2022-07-15T16:28:18+08:00July 15th, 2022|Questions and Answers, Uncategorized|

What is a share split?

Introduction A share split is also commonly referred to as a stock split. It is usually done for commercial reasons. Usually, when the price of a share is restrictively high, the company may decide to break up or split that share into multiple smaller shares. For example, instead of 1 share being priced at $100, [...]

By |2022-06-27T17:11:32+08:00June 27th, 2022|What Is...|

Advantages and disadvantages of convertible notes

Brief introduction: To better understand the advantages and disadvantages, we will need to first understand what convertible notes really are and then we can better appreciate their usage. We have a previous article posted here: What is a convertible note?. This article spells out the usual steps a company may take to issue a convertible [...]

By |2022-06-10T12:12:43+08:00June 10th, 2022|Running a Company|

Guide to CPF contributions in Singapore

Do note that the information in this article is accurate as of the date of publishing. As a general guide, CPF contributions are required for full-time, part-time, casual and temporary employees who are: Singapore citizens or permanent residents Engaged under a contract of service (i.e. an employment contract as opposed to a contract for service) [...]

By |2022-04-19T18:05:10+08:00April 25th, 2022|Running a Company|

Are CPF contributions by Employers taxable?

There are 4 main types of CPF contributions. Some are taxable and some are not. Compulsory CPF Contributions relating to employment in Singapore. [Not taxable] This refers to the CPF contributions that the employer will make to the employee's CPF account when typically issuing monthly salary. Example: Employee's salary: $3000 Employee's age: below 55 years [...]

By |2022-04-13T17:42:41+08:00April 13th, 2022|Accounting Bookkeeping Tax and XBRL|
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