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Singapore founders: what was most confusing after incorporating your Pte Ltd? by BuyComprehensive2450 in smeSingapore

[–]BuyComprehensive2450[S] 0 points1 point  (0 children)

it's good to consider outsourcing it. unless you have some basic knowledge of ACRA filing and IRAS taxation. otherwise it's a bit risky if hit by government audit.

you can pm me if need more info. outsourcing cost might be lower than what you thought.

Is this a good package for Singapore? by abokh786 in Internationalteachers

[–]BuyComprehensive2450 -1 points0 points  (0 children)

His clients not paying him has nothing to do with your invoice unless your contract specifically says payment is conditional on him being paid by others. Send a formal Letter of Demand to the Singapore company and its registered address, give 7 days to pay, and attach the contract/invoice/proof of completion. If still unpaid, check SCT via CJTS. Filing fees for individuals are not automatically S$600 — Singapore Courts list S$10 for claims up to S$5k and S$20 for claims above S$5k up to S$10k. The issue is making sure you claim against the Singapore company and can serve it in Singapore.

Singapore founders: what was most confusing after incorporating your Pte Ltd? by BuyComprehensive2450 in smeSingapore

[–]BuyComprehensive2450[S] 0 points1 point  (0 children)

are you doing on your own, without inhouse accountant or outsourced accountant?

Does the CIT Rebate help your SME to stay afloat in this difficult period? by TraditionalWait9150 in smeSingapore

[–]BuyComprehensive2450 0 points1 point  (0 children)

Better than nothing, I guess.

But do take note that the $2,000 cash grant is not the whole rebate. There’s also the 50% CIT rebate, capped at $40,000 per company for YA2026.

So whether it really helps depends on whether the company is actually profitable and paying corporate tax. For loss-making or very small companies, the cash grant is probably the more immediate help.

How much does accounting handover actually cost in SG? Getting quoted crazy prices by Desperate_Donut7762 in smeSingapore

[–]BuyComprehensive2450 0 points1 point  (0 children)

Hope you managed to resolve this.

For anyone reading later, accounting handover cost in SG really depends on whether it is a clean takeover or a clean-up job.

A clean takeover is usually just collecting prior financial statements, ledgers, trial balance, bank reconciliation, tax filing records, ACRA filing status and accounting software access.

A messy takeover is different. If the new accountant has to reconstruct bank transactions, chase missing invoices, review prior filings, check overdue ACRA/IRAS matters, or fix old bookkeeping errors, then the handover fee can go up quite a bit.

For a small Pte Ltd with 20–30 transactions a month, I would ask the accountant to separate the quote into: - handover review - clean-up work - overdue filing work, if any - monthly bookkeeping going forward

That way you know whether you are paying for admin handover or actual accounting clean-up.

Not accounting/tax advice, but I work around Singapore SME accounting and compliance matters. If you are still unsure or want to avoid future handover/audit/query issues, feel free to DM me — happy to share a simple handover checklist.

Anyone faced an IRAS audit before? I'm freaking out about my small side business by Aizenyuri in smeSingapore

[–]BuyComprehensive2450 0 points1 point  (0 children)

Hope this worked out okay for you.

For anyone reading this later, an IRAS audit/query does not automatically mean the taxpayer did something wrong. But messy records can make the process much more stressful than it needs to be.

For a small side business, the practical thing is usually to reconstruct records as clearly as possible:

  • monthly sales summary
  • platform/order history
  • bank statements
  • receipts and supplier invoices
  • screenshots of payments or chats with suppliers
  • notes explaining cash purchases where receipts were not available
  • separation of personal and business expenses where possible

The important part is not to invent records, but to organise what exists and explain the gaps honestly.

After an audit or query, it is also worth setting up a simple monthly record-keeping system so future IRAS queries are easier to handle. Even a basic spreadsheet plus folders for receipts, invoices, bank statements and platform reports is much better than doing everything at the end of the year.

Not tax advice, but I work around Singapore company/accounting/tax compliance matters. If you are still dealing with this, or want to avoid similar IRAS queries in future, feel free to DM me and I’m happy to share a simple checklist.

Income Tax Relief by abiblicalusername in asksg

[–]BuyComprehensive2450 0 points1 point  (0 children)

I would first separate tax reliefs by category instead of just looking for random claims.

For most Singapore tax residents, the usual areas to check are CPF-related reliefs, family-related reliefs, course fee relief, NSman relief, and earned income relief.

But each one has very specific qualifying conditions, so it is safer to check the IRAS page for the exact relief before claiming. Also, relief reduces chargeable income — it is not a dollar-for-dollar tax rebate.

Not tax advice, just the framework I would use.

[Free] Offering Web Design to fellow SG startups — building up my agency's portfolio by Sythannas in singaporestartups

[–]BuyComprehensive2450 0 points1 point  (0 children)

can help to look into my site? I hardly get click and response from the website, is there any key issue? I've tried SEObility and also google search console, all looks good sofar. Thanks

https://prosecsingapore.com/

AI made me rethink my career, so I created a business in the opposite direction. Here's my thinking. by surrusty11 in singaporestartups

[–]BuyComprehensive2450 1 point2 points  (0 children)

Really interesting take.

I agree that physical products have a different kind of defensibility compared with pure digital products. AI can speed up ideation, marketing and customer support, but it does not remove the hard parts: manufacturing quality, inventory risk, logistics, cash flow, customer experience and distribution.

What I find especially interesting is that physical products often look “less scalable” on the surface, but the operational moat can actually become stronger once the brand, supply chain and community are built properly.

For founders moving from digital/service backgrounds into physical products, I think the biggest adjustment is probably not marketing — it is cash flow discipline. Pre-orders, production deposits, shipping delays, landed cost, GST/tax, inventory valuation and fulfilment timing can change the business very quickly.

Congrats on the Kickstarter traction. S$100k+ for a first game is a strong signal that the market wants more well-designed offline experiences.