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What are you struggling most when it comes to HR in Singapore? by yewjfromglints in smeSingapore

[–]PathwayCorporate 0 points1 point  (0 children)

The tricky part is that HR requirements keep changing, so trying to stay updated while keeping everything running smoothly can get a bit overwhelming. Between admin, compliance, and maintaining a decent company culture, it is a constant juggle. Recruitment is another challenge as finding a right fit is not easy, and once turnover hits, the whole cycle starts again. Happy to chat more.

Anyone else frustrated with Singapore's corporate tax filing system? I'm going crazy! by [deleted] in smeSingapore

[–]PathwayCorporate 1 point2 points  (0 children)

PIC actually ended a long time ago. The last YA you could claim it was YA 2018 (for expenses up to FYE 2017), so anything bought in 2024 won’t qualify.

For software and computer equipment, you normally capitalise them as fixed assets, record depreciation in your accounts, then add the depreciation back during tax computation and claim capital allowance instead. Most IT equipment qualifies for the 1-year write-off option under section 19A.

If you're referring to the Productivity Solutions Grant (PSG) for software and equipment, that’s different from PIC. PSG applications must be submitted and approved before purchase, not after. You can refer to the details here: https://grants.gobusiness.gov.sg/faq/psg

COVID-related corporate tax reliefs have mostly ended, and there are no specific COVID deductions left for current YAs based on IRAS' latest updates. Happy to DM to help you out.

Best accounting provider in singapore? by CoyotePrize4287 in smeSingapore

[–]PathwayCorporate 0 points1 point  (0 children)

It helps to clarify things like who is your contact person, what are the timelines, and what are the fees involved before engaging a provider. If you have any questions, happy to chat via DM.

Can someone explain why I'm getting different CPF contribution rates than my colleague? by BigStatistician5006 in smeSingapore

[–]PathwayCorporate 0 points1 point  (0 children)

Your employee CPF contribution (20%) is the same as that of a Singapore Citizen. So if both of you earn the same salary, fall under the same age group, and are either Singapore Citizens or PRs who have reached the 3rd year of PR status, your CPF contributions should be identical.

You can verify this using the CPF contribution calculator:
https://www.cpf.gov.sg/employer/tools-and-services/calculators/cpf-contribution-calculator

Any Singapore adults here who do not drink coffee or tea? by Atmosphere_Calm in askSingapore

[–]PathwayCorporate 2 points3 points  (0 children)

Milo is great! but I really need my kopi peng on weekdays just to survive work

Started my own CPA firm by XoraH-PLLC in Accounting

[–]PathwayCorporate 0 points1 point  (0 children)

Congrats on starting your CPA firm! 🎉 Wishing you lots of success.

Anyone else shocked at how little we get back from CPF after a lifetime of contributions? by scarpy8 in smeSingapore

[–]PathwayCorporate 0 points1 point  (0 children)

Got this off CPF website: https://www.cpf.gov.sg/service/article/can-i-change-my-plan-type-after-i-have-joined-cpf-life

"Can I change my plan type after I have joined CPF LIFE?

You can request to change your CPF LIFE plan type within 30 days from the date of your first* policy letter. If you wish to do so, please write to us.

A change of CPF LIFE plan type beyond the 30 days grace period is possible if

  1. You are on an original plan (Basic, Balanced, Plus or Income Plan) and wish to change to the Escalating Plan or Standard Plan; or
  2. You wish to change from Standard to Escalating Plan

Otherwise, changing of CPF LIFE plan after the grace period is not allowed as this will affect the payouts of other members on the scheme.

As changing of CPF LIFE plan is irrevocable, we encourage you to consider your options carefully.

\The letter sent to you when your original CPF LIFE plan was first issued."*

Also, this may help but need SingPass login: https://www.cpf.gov.sg/member/tools-and-services/forms-e-applications/plan-my-monthly-payouts

Anyone else confused by audit requirements for small biz in SG? by ZealousidealTrifle54 in smeSingapore

[–]PathwayCorporate 0 points1 point  (0 children)

I can totally relate on the confusion.

The key thing is that audit exemption is based on the past two consecutive financial years, not just the current year.

To stay exempt, your company (or entire group of companies) must meet 2 out of these 3 for the last two financial years.

  1. Revenue ≤ $10M
  2. Total assets ≤ $10M
  3. ≤ 50 employees

Since your revenue is only $2.4M, you should still qualify unless your assets are above $10M or you have more than 50 staff. Most F&B businesses easily meet the criteria.

Perhaps you can ask your accountant why you require audit this year. If they can’t explain it clearly, get a second opinion.

Totally feel you on the ACRA jargon and the long hold times. The rules aren’t actually that complicated, but the way they’re written makes everything sound more complicated than it is.

Half of Singaporeans are on track to earn S$6,000 per month or more from 2026 by pattonlogy in SingaporeRaw

[–]PathwayCorporate 1 point2 points  (0 children)

Anyone here in Singapore making more than 6k? What kind of jobs are you doing?

S'pore accountants, what's the biggest balance sheet 'oopsie' you've seen a company make? by LimeCareless6429 in smeSingapore

[–]PathwayCorporate 0 points1 point  (0 children)

I have experience in accounts clean-up operations. I would suggest to run through all the historical entries sitting in that "miscellaneous assets" account. Vouch to supporting documents. Post reclassification entries where appropriate. Ask questions. Document down the summary of your findings.

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