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Sheltons Blog

Welcome to Sheltons Group’s blog page, keeping you informed and updated on latest industry trends and articles to grow your business.

 

Goods and Services Tax (in Singapore) increase to 9% effective from 1 Jan 24

Goods and Services Tax (in Singapore) increase to 9% effective from 1 Jan 24

From 1 January 2024, the Goods and Services Tax (“GST”) in Singapore was increased from 8% to 9%. The GST rate chargeable on the supply will be the prevailing rate at the time of supply. The time of supply for most transactions is triggered by the earlier of the following two events: When payment is […] 14th February 2024 Read more >
Singapore tax treatment of gains from sale of foreign assets

Singapore tax treatment of gains from sale of foreign assets

With effect from 1 January 2024 Singapore will, under certain circumstances, treat gains from the sale or disposal of foreign assets as income chargeable to tax under Section 10L of the Income Tax Act. Prior to 1 January 2024, Singapore did not tax gains from the sale or disposal of assets that are capital in […] 26th January 2024 Read more >
The Register of Foreign Ownership of Australian Assets

The Register of Foreign Ownership of Australian Assets

Sheltons Group Legal – an Australian law firm based in London Investing in Australia? Know your obligations under the new Register of Foreign Ownership of Australian Assets From 1 July 2023, foreign investors have been required to notify the newly established Register of Foreign Ownership of Australian Assets (the Register) if they acquire interests in […] 23rd January 2024 Read more >
Personal income tax and residency – some basics (Singapore)

Personal income tax and residency – some basics (Singapore)

In Singapore, any income received from services provided or employment exercised within the country is taxable. This includes compensation received in the form of cash or non-cash benefits. Since the income is sourced in Singapore, it is subject to Singapore’s tax. Income tax is calculated on a preceding year basis. The amount of tax and […] 21st December 2023 Read more >
Goods and Services Tax (GST) – some basics (Singapore)

Goods and Services Tax (GST) – some basics (Singapore)

GST, also known as VAT, was introduced in Singapore on 1 April 1994 at the rate of 3%. This has progressively increased and currently it is at 8%. With effect from 1 January 2024, this will be increased to 9%. Only GST registered businesses can charge GST. GST can be broadly classified into two categories: […] 20th December 2023 Read more >
Audit requirements in Singapore

Audit requirements in Singapore

Singapore incorporated companies will be assessed on the requirement for audit based on the “small company concept”. A company qualifies as a “small company” if the following are met: It is a private company in the financial year in question and It meets at least two out of three of the following quantitative criteria Total annual […] 13th December 2023 Read more >
Setting up in Singapore – tax and legal comparisons

Setting up in Singapore – tax and legal comparisons

The legal system in Singapore and Australia is a common law system, ultimately inherited from England. However, the tax and legal differences between Singapore on the one hand, and the UK and Australia on the other, are often surprising to those in the UK and Australia setting up in Singapore. Here are a few examples. […] 5th December 2023 Read more >
ETL Global Conference Berlin 2023

ETL Global Conference Berlin 2023

Ned Shelton, Ivan Zammit, Stefano Oragano and Courtney Gleeson were thrilled to attend the ETL Global Conference 2023 in Berlin. Sheltons have been a proud member of ETL GLOBAL for many years and the conference in Berlin was a great way to see other members representing various professional firms from around the world. The main […] 29th November 2023 Read more >
Fourth Edition of the Bloomberg Country Tax Guide Malta

Fourth Edition of the Bloomberg Country Tax Guide Malta

Sheltons Malta releases Fourth Edition of Bloomberg Country Tax Guide Malta: An essential resource for tax professionals and business owners The fourth edition of the prestigious Bloomberg Country Tax Guide Malta, prepared by Sheltons has been released. We cordially invite you to access the full publication through the following link: Country tax guide 2023 2023 […] 27th September 2023 Read more >
AU-UK FTA Seminar – Sheltons on the Panel

AU-UK FTA Seminar – Sheltons on the Panel

Courtney Gleeson, Principal Lawyer of Sheltons Group Legal, joined the panel for the Australia-United Kingdom Free Trade Agreement seminar organised by the Australia-United Kingdom Chamber of Commerce in London. The event, held on 06 September 2023, was an opportunity for insightful discussions, valuable networking and the exploration of key provisions for the benefit of Small and […] 11th September 2023 Read more >
Corporate compliance in Australia: a legal perspective

Corporate compliance in Australia: a legal perspective

Sheltons Group Legal – an Australian law firm based in London Entering the Australian market is a different ballgame – when you compare the corporate requirements of your head office or company location to that of Australia, there are likely to be considerable differences in how a company is required to operate! Australian company law […] 7th August 2023 Read more >
‘Casual’ & ‘ongoing’ employment: the Australian distinction

‘Casual’ & ‘ongoing’ employment: the Australian distinction

Sheltons Group Legal – an Australian law firm based in London Under recently introduced legislation, ‘casual’ employees in Australia have been granted a right to request the conversion of their employment to an ‘ongoing’ or permanent position – subject to certain criteria. This enables employees to take advantage of more extensive entitlements that have previously […] 24th July 2023 Read more >
Australia increases national minimum wage

Australia increases national minimum wage

Sheltons Group Legal – an Australian law firm based in London The Australian Fair Work Commission has determined there will be Australia-wide increases to the national minimum wage as well as to Modern Award minimum wages. The increases take effect from 1 July 2023. Each year, the Fair Work Commission (‘FWC’) makes an order that […] 4th July 2023 Read more >
Commercial agreements & arrangements in Australia

Commercial agreements & arrangements in Australia

Sheltons Group Legal – an Australian law firm based in London Is your business about to enter into an agreement or contract governed by Australian law? It is really imperative that you are aware of the key terms and obligations that you’re committing to – and that you understand if what you are agreeing to […] 26th June 2023 Read more >
Director resignations in Australia: has a director legally left their post?

Director resignations in Australia: has a director legally left their post?

Sheltons Group Legal – an Australian law firm based in London Until recent legislative changes to the Corporations Act 2001 (Cth), a director’s resignation was taken to be effective from the date confirmed in a relevant resolution, or simply when the director provided written notice of their resignation. The ‘date of effect’ might not be […] 15th June 2023 Read more >
The tax implications of selling Australian residential property whilst resident of the UK

The tax implications of selling Australian residential property whilst resident of the UK

It is now more important than ever to carefully consider tax implications when disposing of Australian residential property (real estate) as a foreign resident. Over the last 6 years Australia has introduced new capital gains tax rules for foreign residents. In this article, we consider the potential tax consequences of selling Australian residential property as […] 9th March 2023 Read more >
Moving to the UK and renting your property in Australia

Moving to the UK and renting your property in Australia

Are you moving to the UK and renting out your property in Australia? Below we have covered some popular Australian and UK tax issues and questions that arise when becoming a non-resident landlord of Australia. Will I be taxed on my Australian rental income in Australia? Non-residents of Australia are generally taxed on income derived […] 20th October 2022 Read more >
UK and Singapore – tax filing for British citizens in Singapore

UK and Singapore – tax filing for British citizens in Singapore

If you’re a British Citizen in Singapore, you may still be required to file a UK tax return as well as a Singapore tax return, even if you’re considered non-resident in the UK for tax purposes. Filing UK taxes from Singapore can be confusing. In this blog, our Tax Manager, Christian Iles, answers the most […] 20th October 2022 Read more >