2nd Briefing on Changes to tax treatment of various Benefits-in-kind
   
 
Date: Mon, 04 Feb 2008
Time: 3.00pm – 5.00pm
Venue: Level 5, Grand Ballroom Furama City Centre (next to Apollo Centre)
Fee:
SNEF Members – Free
Non-Members - $53.50 per participant (inclusive 7% GST)


 
Programme Introduction




1. Due to overwhelming response for the 1st briefing on 28 Jan 2008, Singapore National Employers Federation (SNEF), together with IRAS and SBF, is proud to bring you the 2nd “Briefing on Changes to tax treatment of various Benefits-in-kind” on the key changes to the policy. All members are encouraged to attend, as you will receive up-to-date information and have the opportunity to seek clarification at the Q & A session following the presentation.

2. Inland Revenue Authority of Singapore (IRAS) has decided to extend the scope of concessions to various benefits-in-kind. For the benefit of employees, the changes will take effect from the Year of Assessment 2008 (i.e. benefits given out from 2007). Some of the exemptions include:

(a) Benefits that are not taxable:

* Premiums paid by employers for group medical insurance regardless of who the named beneficiary is
* Private benefits, including reimbursement of car park charges and petrol, derived by drivers of commercial vehicles that are owned by the employers
* Transport allowance given on a per-trip basis for travel

(b) Benefits that are not taxable if they do not exceed the threshold of $200:

* Awards for passing exams / service excellence (cash/ non-cash)
* Gifts (cash / non-cash) for special occasions / festive season
* Retirement / Long Service award (non-cash)

The submission to IRAS is stipulated on 1 Mar 2008.








Programme Details



3.00pm Registration (Coffee & tea will be served)
3.30pm Presentation on Changes to IRAS Tax Treatment of Various Benefits-in-Kind
By Ms Tan Shet Ni
Tax Specialist, Ruling and Compliance Branch – Individual Income Tax Division
Inland Revenue Authority of Singapore (IRAS)
3.50pm Q & A Session
5.00pm End

------------------------------------------------------------------------------------------------------ Programme is correct at time of print
 
   

Administrative Details

[ ] SNEF Members – Free
[ ] Non-Members - $53.50 per participant (inclusive 7% GST)

1. Please fax registration form to reserve a seat. Registration is on a first-come, first-served basis. Admission shall be allowed only upon presentation of confirmation from SNEF (i.e. confirmation stamp on the registration form).

2. The amount is inclusive of 7% GST.

3. Please enclose cheque payable to “SNEF”, indicating your contact details, organization and the event name in the reverse side of cheque. Mail the cheque to SNEF, 19 Tanglin Road, #10-01/07, Tanglin Shopping Centre, S(247909).

4. SNEF reserves the full right to cancel, refund or make adjustments to the event.

5. For more information, please contact us at 6827-6955 or email: mrevent@snef.org.sg.

6. Please download the fax form for registration. Click here 		 
   


 
     
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