Entrepreneur at the Age of 18

Posted by admin on Feb 26, 2009

ACRA has announced that the legal age to be a local director has been reduced from 21 to 18. This mean entrepreneurship may start as early as university or polytechnic. This is in line with lots of governemnt policies.

 

 

I am quite happy this is implemented especially at this economy downturn. We have been taught to look for a stable job and work in a MNC, our education system did not, YES DID NOT, teach us anything about ENTREPRENEURSHIP. Finally someone has spotted the gap in the education system and patch it up with lots of creativity and innovation.

 

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Below is the announcement from ACRA. For more details, please visit www.acra.gov.sg and more information on setting up companies, please visit www.361dc.com

 

 

With effect from 1 March 2009, the age at which most contracts* are binding and enforceable against a minor, and the minimum age to be a director of a company or a manager of a limited liability partnership, will be lowered from 21 to 18 years.

With the change, persons 18 years old and above can register a business name, be a company director, and form companies or limited liability partnerships.


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The exceptions are:

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a) Eight Crazy Nights move contracts for sale, purchase, mortgage, assignment or settlement of any land, other than a contract for a lease of land not exceeding 3 years;

b)

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c)    Showtime download contracts for sale, transfer or pledge of a minor’s beneficial interest under a trust; and

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d)   

contracts for settlement of any legal proceedings or action in respect of which the minor is, pursuant to any written law, considered to be a person under disability on account of his 

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age, or of any claim from which any such legal proceedings or action may arise.

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Jobs Credit Scheme

Posted by admin on Feb 20, 2009

Overview

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In the recent 2009 budget annoucement, the Finance Minister, Mr. Tharman Shanmugaratnam, has announced several ways to stimulate our economy and the most significant policy, in my opinion, is the job credit scheme. The scheme is not only having an direct impact on businesses but also savings thousands of jobs especially for Singaporeans.

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Are you Eligible?

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Businesses in operation that have made Central Provident Fund (CPF) contributions for their employees (Singaporeans and Permanent Residents only), with the exception of local and foreign government organisations, will be eligible for the Jobs Credit.

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If the directors of an SME is currently not drawing monthly salary but director fee (as director fee is not subjected to CPF), it is time to think twice. Companies shall be eligible for the 12% jobs credit once the directors start submitting CPF. Generally speaking, the director should do so if he/she is currently servicing housing loan using CPF.

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How to Calculate?

The calculation is kind of complicated but the lucky thing is that, IRAS will compute this for all companies, and therefore, we are able to work harder during this downturn while enjoying the 12% credit.

The Jobs Credit will be paid to eligible employers in 2009 in four payments: March, June, September and December 2009. And who shall be eligibel? Of course, only Singaporeans and Singapore PR.

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The Jobs Credit will be computed based on the employer’s CPF contribution data, which will be provided by CPF Board to IRAS. Snow White and the Seven Dwarfs dvdrip Star Trek: Insurrection divx Young Adam hd

The Jobs Credit is calculated based on 12% of the first $2,500 of the derived wage cost for each eligible employee on the employer’s CPF payroll.  This means the employer will receive up to $900 per employee for each payment (12% x $2,500 x 3 months). download Die Hard dvd

For more information on the Jobs Credit Scheme, please visit www.singaporebudget.gov.sg/

For other government grants and services, please visit www.361dc.com.


GST Grant Expiring

Posted by admin on Feb 17, 2009
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Nieruchomy poruszyciel movie The popular $5K start-up funding is going to expire soon. At the time of publishing this blog, there were no news from Spring Singapore that the grant is going to be extended.

The popular grant is focusing companies with voluntary registration of GST. (for more information on GST, please visit www.iras.gov.sg

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) and company shall get 100% subsidy of computer software (eg. MYOB) and 50% on software training, implementation, consultancy, IT Hardware & One Year Contract for Internet Broadband. Full description of the GST assistance scheme can be found at www.361dc.com Sex and the City: The Movie .

However, the good news is that government is revising some other schemes such as work-life & etc. The work-life-works scheme (WoW Fund) will be revised from the current of $10K to $20K. Details shall be announced on the 1st of March 2009 and we are very excited.

More information on WOW Fund can be found on www.361dc.com Before Sunrise buy

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Start a New Year in MYOB

Posted by admin on Feb 5, 2009
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Must you start a new year? Not really, MYOB allows you to continue to use even though you are crossing into a new year! And you are able to keep your records up to 7 years! Yes, 7 years, without purging or compressing.

However, if you feel like closing the old data and move on. Then it is time to start a new year, how?

Follow the steps,

1. Select “File” on Menu Bar

2. Select “Start a New Year”

3. Follow the Step by Step Instruction

4. That is it! Star a new year.

One very important thing is that, remember to BACK UP your file before starting a new year. There is no UNDO option in MYOB, hence, please ensure you have a copy of the back up file!

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Using Chinese Character in MYOB

Posted by admin on Feb 5, 2009

It has been quite a debate of using Chinese Character in MYOB. Some say yes and of course, some not. The official answer from technical support is a big “NO”.

Finally, with help from a dear friend, Grace from Silk System, we finally tested and confirmed that users are able to type Chinese Character in MYOB, Singapore version.

What you need to do is to change the setting in windows environment. Go to control panel, select regional and language setting, select Chinses PRC, and re-start PC. Here you go! 讲华语!

However, be careful, the setting may clash with your other software such MYOB Retail Manager and MYOB Payroll.

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Implications of Budget 2009 for Companies

Posted by admin on Feb 5, 2009
The Budget 2009 has been recently announced on the 22nd January 2009. This $20.5 billion ‘Resilience Package’ will stimulate growth in private businesses, and provide tax relief for both businesses and individuals.

You may have heard the budget; you may have read about it, you may have seen it on television. But do you know how it exactly benefits you? Do you know what funds or incentives you can tap on? Do you know what the Government has planned for this year’s economy so that you can prepare yourself in time to meet the changes, and grab the opportunities?

A budget seminar comprising of 4 experts from MOM, WDA and private industries will provide a balanced perspective for both your businesses and assets. This will enable you to benefit most from this year’s Budget 2009.

To join the seminar before seats run out, pelase send me an email at ken@361dc.com

Date: 10 February 2009, Tuesday
Time: 6pm to 9pm
Venue: MND Auditorium
Fee: $20 / person

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