by Daryl Lum | May 15, 2024 | Growing Your Company
Forecasting leverages historical data and analytical assumptions to project future financial outcomes, serving as a pivotal tool for strategic decision-making. Through the extrapolation of past financial trends, forecasting offers a comprehensive view of anticipated...
by Daryl Lum | May 13, 2024 | Running Your Company
Retrenchment is the termination of permanent employees. This is usually because of redundancy or a reorganisation of the company or business. When we speak of the term retrenchment exercise, we usually refer to it as the termination of a noticeable number of...
by Daryl Lum | May 13, 2024 | Glossary
Deductions, in the context of taxation, refer to specific expenses or allowances that can be subtracted from an individual’s or a company’s assessable income to arrive at their chargeable income. These deductions are typically permitted by tax authorities...
by Daryl Lum | May 13, 2024 | Glossary
Chargeable income (CI) is the portion of income that is subject to tax in Singapore after allowable deductions, reliefs, and exemptions are applied. In the Singapore tax system, IRAS uses chargeable income to calculate the final income tax payable by individuals and...
by Daryl Lum | May 13, 2024 | Glossary
Assessable income in Singapore refers to the total income earned by an individual or a company that is subject to taxation by the Inland Revenue Authority of Singapore (IRAS). It includes income from employment, business, trade, profession, property, and any other...
