Personal Relief for Personal Computer – New Definition

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It is important for taxpayers to take note that with effect from the Year of Assessment (YA) 2013, there will be a new definition of ‘personal computer’ for the purpose Continue Reading →

Tax Refund: How Will You Spend It?

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Lately,  I’ve seen a lot of tax refund cheques of my clients coming in at my office. Most of the refunds were for my clients  having an employment source. I’ve Continue Reading →

Tax Planning for Interest-Free Loan to Directors

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Following from my post on Interest-Free Loan to Directors of Companies, I explained how the Inland Revenue Board (IRB) can invoke Section 140 of the Income Tax Act 1967 to Continue Reading →

Interest-Free Loan to Directors of Companies

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Recently, I was trying to explain to a potential client about the tax implications of giving interest-free loan to directors of companies. He in turn replied, “What’s the big deal about Continue Reading →

Maximising On Tax Savings

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The Star newspapers published a full page article on ‘Maximising on Tax Savings’ last Sunday, in view of the present tax filing season. Several important points were touched on how Continue Reading →

IRB Urg­ing More Peo­ple To Use Free e-Fil­ing Ser­vice

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It was reported in The Star newspapers yesterday that the Inland Revenue Board (IRB) is urging more people to use the free e-Filing service to file their income tax returns. Continue Reading →