Lasting Power of Attorney fees waived for 2 more years
Posted 15 Aug 2016 10:31 Updated 15 Aug 2016 10:40
SINGAPORE: Fees for Lasting Power of Attorney (LPA) form 1 applications will be waived for a further two years, the Ministry of Social and Family Development (MSF) said on Monday (Aug 15).
An LPA allows a person who is at least 21 years of age to appoint one or more persons to make decisions for them should they lose their mental capacity.
In a press release, MSF said the new closing date for fee waiver is now Aug 31, 2018, "to encourage more Singaporeans to plan ahead with an LPA to protect their interests".
In a related blog post, Social and Family Development Minister Tan Chuan-Jin cited an Institute of Mental Health study, saying that dementia strikes one in 10 Singaporeans aged 60 and above.
"As our society ages, many of us are increasingly at risk of losing our mental capacity," he said. "It can happen to any of us. And if it does, I'm sure we would want someone we trust to make those important decisions such as our finances or those relating to our health and welfare on our behalf."
The minister added: "I encourage everyone to make a Lasting Power of Attorney early to give ourselves and our loved ones peace of mind in the event that the worst does happen."
- CNA/hs
- wong chee tat :)
Showing posts with label 2018. Show all posts
Showing posts with label 2018. Show all posts
Monday, August 15, 2016
Thursday, August 11, 2016
POSB SAYE ACCOUNT & RATES
POSB SAYE ACCOUNT | |
|---|---|
Deposit Amount | Rates (% p.a.) |
| FOR MONTHLY SAVINGS AMOUNT | |
| $50 - $290 | 0.0500 |
| $300 - $790 | 0.2000 |
| $800 - $1,490 | 0.2500 |
| $1,500 - $3,000 | 0.2500 |
| If there is a failed crediting of monthly savings amount, withdrawal made or account is closed during the month | 0.0500 |
| ^ Cash Gift Interest ^ Cash Gift Interest for 24 months on your monthly savings in POSB SAYE Account when you credit your Full-Time National Serviceman (NSF) monthly salary to the linked debiting account. If withdrawal is performed, all past months accumulated 2% Cash Gift Interest amount will be forfeited. Terms and Conditions apply. | 2.0000 |
Interest rate is based on the Monthly Savings Amount
- wong chee tat :)
Thursday, June 30, 2016
Businesses to enjoy 250% tax deduction on wages if employees volunteer at IPCs
Businesses to enjoy 250% tax deduction on wages if employees volunteer at IPCs
Posted 30 Jun 2016 15:37 Updated 30 Jun 2016 16:04
SINGAPORE: From Jul 1 this year to the end of 2018, some businesses in Singapore will enjoy up to 250 per cent tax deduction on wages and related expenses, the Ministry of Finance (MOF), Inland Revenue Authority of Singapore (IRAS) and Ministry of Culture, Community and Youth (MCCY) said in a joint press release on Thursday (Jun 30).
The tax deduction applies to companies that send employees to volunteer and provide services, including secondments, to Institutions of a Public Character (IPCs) under the Business and IPC Partnership Scheme (BIPS), subject to receiving IPCs’ agreements, the authorities said.
The services include professional services such as in the areas of legal, human resources and accounting, or general voluntary services for IPCs, they added.
IPCs are registered charities that are allowed to issue tax-deductible receipts to donors who want to claim tax relief based on the amount of qualifying donations made. These charities must serve the needs of the community in Singapore as a whole, and not be confined to sectional interests or groups based on race, belief or religion, according to MCCY's website.
Currently, donors to IPCs already enjoy tax relief for 250 per cent of the donations.
BIPS was introduced in Budget 2016 to encourage employee volunteerism through businesses, and forms part of the Government’s efforts to promote philanthropy and volunteerism.
When he announced the scheme on Mar 24, Finance Minister Heng Swee Keat said it would boost corporate social responsibility (CSR) and make it easier for employees to give back through their workplaces.
In their press release on Thursday, the authorities said: "Through volunteering activities or secondments, businesses and IPCs can build enduring and sustained partnerships, benefiting both parties ... In the long run, the Government hopes to foster a widespread culture of caring in Singapore, where businesses and employees can play a greater role in meeting social needs and building a caring and cohesive society."
The scheme comes with some caveats, however. For example, the donation of goods and wages of the owners of sole proprietorships, partnerships and companies do not qualify for the tax deductions. The companies must also not have applied for other incentive schemes for the same services, and there is a cap of S$250,000 per year of assessment and S$50,000 per calendar year for the expenditure of each business and IPC respectively.
The guidelines and FAQs for IPCs interested in participating in BIPS can be found on the MOF and Charity Portal websites, and more information for businesses can be found on the IRAS website.
- CNA/mz
- wong chee tat :)
Posted 30 Jun 2016 15:37 Updated 30 Jun 2016 16:04
SINGAPORE: From Jul 1 this year to the end of 2018, some businesses in Singapore will enjoy up to 250 per cent tax deduction on wages and related expenses, the Ministry of Finance (MOF), Inland Revenue Authority of Singapore (IRAS) and Ministry of Culture, Community and Youth (MCCY) said in a joint press release on Thursday (Jun 30).
The tax deduction applies to companies that send employees to volunteer and provide services, including secondments, to Institutions of a Public Character (IPCs) under the Business and IPC Partnership Scheme (BIPS), subject to receiving IPCs’ agreements, the authorities said.
The services include professional services such as in the areas of legal, human resources and accounting, or general voluntary services for IPCs, they added.
IPCs are registered charities that are allowed to issue tax-deductible receipts to donors who want to claim tax relief based on the amount of qualifying donations made. These charities must serve the needs of the community in Singapore as a whole, and not be confined to sectional interests or groups based on race, belief or religion, according to MCCY's website.
Currently, donors to IPCs already enjoy tax relief for 250 per cent of the donations.
BIPS was introduced in Budget 2016 to encourage employee volunteerism through businesses, and forms part of the Government’s efforts to promote philanthropy and volunteerism.
When he announced the scheme on Mar 24, Finance Minister Heng Swee Keat said it would boost corporate social responsibility (CSR) and make it easier for employees to give back through their workplaces.
In their press release on Thursday, the authorities said: "Through volunteering activities or secondments, businesses and IPCs can build enduring and sustained partnerships, benefiting both parties ... In the long run, the Government hopes to foster a widespread culture of caring in Singapore, where businesses and employees can play a greater role in meeting social needs and building a caring and cohesive society."
The scheme comes with some caveats, however. For example, the donation of goods and wages of the owners of sole proprietorships, partnerships and companies do not qualify for the tax deductions. The companies must also not have applied for other incentive schemes for the same services, and there is a cap of S$250,000 per year of assessment and S$50,000 per calendar year for the expenditure of each business and IPC respectively.
The guidelines and FAQs for IPCs interested in participating in BIPS can be found on the MOF and Charity Portal websites, and more information for businesses can be found on the IRAS website.
- CNA/mz
- wong chee tat :)
Tuesday, April 7, 2015
'Strong interest' at soft launch of North Park Residences: Developer
'Strong interest' at soft launch of North Park Residences: Developer
POSTED: 06 Apr 2015 23:04
UPDATED: 06 Apr 2015 23:06
The 920-unit integrated development project saw even sales across its one- to five-bedroom apartments, according to developer Frasers Centrepoint.
SINGAPORE: There was "strong interest" in North Park Residences during its soft launch on Sunday (Apr 5), with 313 of 430 units sold, developer Frasers Centrepoint (FC) announced in a media release on Monday.
North Park Residences will be part of the Northpoint City integrated development, which will comprise the Yishun Integrated Transport Hub, Nee Soon Central Community Club, a Town Plaza, a Community Garden and retail and F&B outlets..
The 920-unit integrated development project saw even sales across its one- to five-bedroom apartments, according to the release, with Singaporeans accounting for more than 88 per cent of buyers.
Phase 1 units of North Park Residences were released at an average pricing of S$1,300 psf, with prices starting from S$612,000 for a Studio unit to S$1.89 million for a five-bedroom unit.
Mr Cheang Kok Kheong, CEO of Development and Property for FC, said the healthy demand for North Park Residences indicates that buyers are aware of the advantages of its location in Yishun, as well as of being part of an integrated development.
North Park Residences will be officially launched for sale on Saturday, FC said. It is expected to be ready in 2018.
- CNA/dl
- wong chee tat :)
POSTED: 06 Apr 2015 23:04
UPDATED: 06 Apr 2015 23:06
The 920-unit integrated development project saw even sales across its one- to five-bedroom apartments, according to developer Frasers Centrepoint.
SINGAPORE: There was "strong interest" in North Park Residences during its soft launch on Sunday (Apr 5), with 313 of 430 units sold, developer Frasers Centrepoint (FC) announced in a media release on Monday.
North Park Residences will be part of the Northpoint City integrated development, which will comprise the Yishun Integrated Transport Hub, Nee Soon Central Community Club, a Town Plaza, a Community Garden and retail and F&B outlets..
The 920-unit integrated development project saw even sales across its one- to five-bedroom apartments, according to the release, with Singaporeans accounting for more than 88 per cent of buyers.
Phase 1 units of North Park Residences were released at an average pricing of S$1,300 psf, with prices starting from S$612,000 for a Studio unit to S$1.89 million for a five-bedroom unit.
Mr Cheang Kok Kheong, CEO of Development and Property for FC, said the healthy demand for North Park Residences indicates that buyers are aware of the advantages of its location in Yishun, as well as of being part of an integrated development.
North Park Residences will be officially launched for sale on Saturday, FC said. It is expected to be ready in 2018.
- CNA/dl
- wong chee tat :)
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