Search results
CIT Rebate for the Year of Assessment ("YA") 2024 and a CIT Rebate Cash Grant [UPDATED!] As announced in Budget 2024, to help companies manage rising costs, a CIT Rebate of 50% of the corporate tax payable will be granted to all taxpaying companies, whether tax resident or not, for YA 2024.
As announced in the Fortitude Budget, qualifying property owners receive support via a Government cash grant and they must in turn provide the necessary rental relief to their eligible Small and Medium Enterprises (“SMEs”) and specified Non-Profit Organisations tenant-occupiers of the prescribed properties under the Rental Relief Framework.
Feb 16, 2024 · SINGAPORE – Companies will receive a 50 per cent corporate income tax rebate, capped at $40,000, in the year of assessment 2024. This is part of a $1.3 billion package to help companies...
- Eligible SMEs Will Receive $1,000 Payout For Each Local Employee
- Sole Proprietors and Partnerships Will Receive A Flat $1,000 Payout
- The Eligibility Period Is Aligned to Support SMEs in Affected Sectors
- Only Small and Medium Enterprises (Smes) in Selected Sectors Are Eligible
- Building A Sustainable Future
- Subscribe to The Dollarsandsense Business Pass
Small and medium enterprises that meet the qualifying criteria would receive $1,000 for each local (Singapore Citizen or Permanent Resident) employee with mandatory CPF contributions in the period of 1 November 2021 and 31 December 2021. This is capped at $10,000 per company. Employees in a company who are also shareholders and directors of the com...
Sole proprietorships and partnerships are not considered employees. However, they are eligible for a flat payout of $1,000, if they are run by a Singapore Citizen or Permanent Resident, not hiring any local employees and earning a net trade income of no more than S$100,000 filed with IRAS in the Year of Assessment 2021 by 31 December 2021. Partners...
As the intention of the grant is to support small businesses in sectors that were most affected by COVID-19 Safe Management Measures, the eligibility period is aligned to the last tranche of payouts for the Jobs Support Scheme (JSS) for November 2021 – December 2021. Likewise, the sectors that qualify for the Small Business Recovery Grant (SBRG) ar...
To qualify for the Small Business Recovery Grant, the business must be: 1. A ‘live’ business entity that is physically present in Singapore and registered no later than 31 December 2021. 2. Have an annual operating revenue of less than $100 million filed with IRAS in the Year of Assessment 2021 by 31 December 2021 or employ fewer than 200 employees...
Be part of the Singapore Green Plan 2030 and achieve your business’ sustainability goals. Fund your green initiatives today with the OCBC SME Sustainable Financing Framework.
Enjoy what you are reading and want more? Join The DollarsAndSense Business Pass and unlock access to valuable tools, exclusive networking opportunities, and tap into the wisdom of industry experts to fuel your business expansion!
Corporate Income Tax Rebate 50% Corporate Income Tax Rebate for companies in the Year of Assessment 2024, capped at $40,000. Minimum cash payout of $2,000 for smaller companies that employ at least one local employee.
From 14 September 2023 till 31 March 2026, earn up to 1.5% p.a. cashback* in your UOB Accounts 1 when you perform transactions via UOB Infinity or UOB SME app. Get in touch
Feb 17, 2024 · Comprising three main components, a new $1.3 billion Enterprise Support Package aims to help Singapore businesses manage rising costs through: A Corporate Income Tax (CIT) Rebate for YA 2024, with a CIT Rebate Cash Grant for eligible companies. Companies will receive a 50% corporate income tax rebate capped at $40,000.
