Taxation in Singapore - Free Essay Example

Tax is source of income for the government and it is used for social benefit in a country. It helps the government develop the country and protect the country such as building roads, building, hospital or purchasing weapon, paying salary for police. It also helps everyone more equally between poor and rich group by providing social amenities. Income tax for individuals under for section 10(1) are gains or profits from any employment section [S10(1)b]; dividends, interest or discount [S10(1)d]; any pension, charge or annuity [S10(1)e]; rents, royalties, premiums and any other profits arising from property [S10(1)f]; any other gains or profits of an income nature [S10(2)g]. There are two type of individuals collected the income tax. They are the non-resident and resident. The presidents are Singaporeà ¢Ã¢â€š ¬Ã¢â€ž ¢s citizens, Singapore Permanent Resident (SPR), foreigners who stayed or worked in Singapore 183 or more than 183 days in the year preceding the YA but excl udes directors of a company. To calculate the tax of residents, taxation will take the total income less donations, expenses and tax relief (deductions). The tax rate will be from 0% to 20%. They can claim the donations, expenses and tax relief to save tax in Singapore. For example, Mr. Stephen has arrived from Vietnam to work in Singapore from the 1st January 2014 to 31th December 2014 with the income S$30,000 annual. Then he must pay tax for $30,000 same as a resident because he worked in Singapore for 365 days. The non-resident are foreigners who working in Singapore less than 183 days in a year preceding the YA. The non-resident can claim the donations and expenses to save tax in Singapore but they cannot claim tax relief like resident. However if a non-resident only work for 60 days or less in Singapore with short term employment will be not charged the employment income tax except adirector of a company, apublic entertaineror aprofessionalin Singapore. For example, Miss Sheila has arrived from China to work in Singapore to study in Singapore from 15th July to 31th December of year 2014 with the salary S$3,000 per month so her employment income will be exempted because she didnà ¢Ã¢â€š ¬Ã¢â€ž ¢t work more than 60days. In Singapore, companies must be collected the tax from government accrued in or derived from Singapore or outside because any gain or profit from any business, rental, share, property and anything that can get income (Applied from Singapore income taxation). Different with income, gain of the capital nature is not taxable in Singapore. Tax will be charged for companies when the companies have gains or profits from any trade, business, profession or vocation [S10(1)a]. Sometimes individuals can be considered to be trading in Singapore even they donà ¢Ã¢â€š ¬Ã¢â€ž ¢t open the business as a company. For example, when the people realize that properties will be increased in future then they will buy and resold quickly. Using à ¢Ã¢â€š ¬Ã…“ badges of tradeà ¢Ã¢â€š ¬Ã¢â€ž ¢Ãƒ ¢Ã¢â€š ¬Ã¢â€ž ¢ to consider when a person in trading. They are six badges of trade and they are subject matter of the realization, length of period ownership, frequency on number of similar transactions by the same person, supplementary work on and in connection with the properties relised, circumstances responsible for the realization, and motivation. The first one is subject matter of the realization that distinction which one normal held as an investment or a subject as a trade. For example, in the caseRutledge v CIR à ¢Ã¢â€š ¬Ã¢â‚¬Å" [1929] 14 TC 490, the taxpayer was held that he got profits from trades so they were be taxable. The second is length of period ownership that a short holding period in investing will be closer monitored to see if the property has been acquired with the purpose of dealing and it will be taxable. For example, in the case of Wisdom v Chamberlain 45 TC 92, buying and selling silver ingots around 1 year then the prof its will be held dealing profit then be taxable. The third one is frequency on number of similar transactions by the same person. Usually, one person does the similar transactions then it will be a trade then be taxable. For example, in the case of Pickford v Quirke 13 TC 251, the union decided to strip mill of his property and sell it fully, make a profit. It was repeated a lot of times. Then profit from selling was taxable. The fourth one is supplementary work on and in connection with the properties relised. According to Sum Yee Loong, the company in Singapore (resident or non-resident) will be charged at a flat rate 17% from YA2010. New companies in operation will be exempted on first $300,000 of a normal qualified company chargeable income for first three continuous years of assessment with the first $100,000 income charged normally, 100% of income will be exempted from tax. The next $200,000 income charged normally, 50% of income will be exempted from tax. Normal companies already started-up what not qualified like the new companies will be not exempted same as the new companies. On their first $300,000 income will be charged normally: First $10,000 of charge income, 75% of those companies will be exempted from tax. Second $290,000 of charge income, 50% of those companies will be exempted. In Singapore, generally capital gains are not taxable. However, there are some difficulties when distinguishing between revenue receipts and capital receipts. There are some concepts to make the distinction. They are: Fixed capital and circulating capital; Tree and fruit; Receiving compensation for a contract be cancelled; Proceeds received in exchange of a restrictive covenant. First of all of concepts, in the fixed capital and circulating capital concept, land is a fixed capital when a person sells a land to other, the gain from selling that land is the capital gain and it is exempted from tax in Singapore. However, circulating capitals are assets which stil l can continuously use as circulated in course of business such as stock or raw material are sold. Any receipt is from selling circulating capital will be the revenue capital then it will be taxable. On the other hand, companies do the business such as selling or buying properties when they receipt the receipts from selling properties will be taxable. The second concept is tree and fruit. Receipts from the selling of asset forming part of the fixed structure of the business (tree) will be normally exempted from tax and the gain is made from circulating capital (fruit) will be regarded as a revenue receipt then be taxable. Illustration, a man has a house and he lease out that house then later on he have some money from rental. The third concept is receiving compensation for a contract is cancelled. There are two points in this concept. First point is the compensation payment in lieu of trading receipts. If the contract is normal, the compensation to be paid instead of transacti on receipts that maybe create part of the business profit of a taxpayer. Then it will be taxed like a trading receipt. For example, in the case of London Thames Haven Oil Wharves vs. Attwool (1966) 43 TC 491, damage received the loss of the use of a jetty while repairs were making and the court held that be compensated by the owner is held to be delivered as well as receipts for income loss. The second point is payment received from profit-making apparatus-capital gain as a receipt for a capital nature receipt. For example, a business man in Singapore has signed a contract for a franchise of FPT restaurant then if the contract be cancelled, that business man will receive amount of money and it will be not taxed. The final concept is proceeding received in exchange of a restrictive covenant. When one-time payment of covenant for not doing business particular territory or not using a particular process or patent, it will be considered as a capital nature then it is not taxable. Fo r example, in the higgs v olivier [1952] 33TC136, an actor joined to a restrictive covenant that he will not act, produce or direct any firm for 18 months, in return for one-time payment. It was held that it is a capital nature receipt then doesnà ¢Ã¢â€š ¬Ã¢â€ž ¢t be taxed.

A Complex System Of Airport Systems - 1985 Words

Definition:- Airports represent the epitome of complex systems with multiple operations, transport management, and Security Systems. There are numbers of models that covers different factors of the airport shows that airport systems are growing rapidly. However, These existing models are not doing systematic work due to increased in a large number of passenger and flight. It was count that in 2014, more than 3.4 billion passengers travel by airplane throughout the world and also it is expected in increased in number to 6.7 billion passengers by 2032[1]. This growth in numbers of passengers will increase airport operation. For that, different types of engineering models should be introduced in Airport System which should be properly verified and validate and which can make a development in different modelling tools and concept. A Complex system of air transportation in which local airports offer air transportation to a central airport where long-distance flights are available. Type of: transit, transportation, transportation system. This service consists of the means and equipment necessary for the movement of passengers or goods[3]. Introduction:- The airport is a large-scale, complex system which deals with numbers of stakeholders, numbers of passengers and different type of operation tasks. Airport plays and important role in the aviation industry and national infrastructure. Every year, more than 3 billion passengers are moving worldwide generating an annual industrialShow MoreRelatedAirport Information Systems828 Words   |  4 PagesToday most airports are facing problem in challenges that lie in the ability to respond to respond to the growing requirements of the many departments involved in operation, statistical and financial information. 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Case Study Alaskan Airlines Flight 261 - 1552 Words

On January 31, 2000, Alaskan Airlines flight 261 took off from Puerto Vallarta, Mexico on its way to Seattle-Tacoma International Airport. The flight was scheduled to have a stop along the way in San Francisco. This flight never made it to its destination, instead it crashed into the Pacific Ocean killing everyone on board; 83 lives in total. The National Transportation Safety Board determined: That the probable cause of this accident was a loss of airplane pitch control resulting from the in-flight failure of the horizontal stabilizer trim system jackscrew assembly s acme nut threads. The thread failure was caused by excessive wear resulting from Alaska Airlines insufficient lubrication of the jackscrew assembly (NTSB, 2002). The maintenance procedure for greasing the nut on the jackscrew requires the aircraft maintenance technician to grease the fitting until all the old grease flows out the other side and new grease appears. This is a very common greasing practice in the industry. When the wreckage was discovered, the jackscrews grease fitting had been found plugged with old grease, an indication that it hadn’t been recently changed. To add to this, the company s maintenance department was already under investigation by federal prosecutors who believed aircraft record falsification had been occurring: The Transportation Department s inspector general, and an outside team hired by Alaska Airlines have also conducted special investigations. In November 1999, aboutShow MoreRelatedMarketing Mistakes and Successes175322 Words   |  702 Pages1-800-CALL WILEY (225-5945). Library of Congress Cataloging in Publication Data Hartley, Robert F., 1927Marketing mistakes and successes/Robert F. Hartley. —11th ed. p. cm. Includes index. ISBN 978-0-470-16981-0 (pbk.) 1. Marketing—United States—Case studies. I. Title. HF5415.1.H37 2009 658.800973—dc22 2008040282 ISBN-13 978-0-470-16981-0 Printed in the United States of America 10 9 8 7 6 5 4 3 2 1 PREFACE Welcome to the 30th anniversary of Marketing MistakesRead MoreStrategic Human Resource Management View.Pdf Uploaded Successfully133347 Words   |  534 Pages....................................................... 614 UNIVERSAL PRACTICES VS. CONTINGENCY PERSPECTIVES...................................................... 616 EMPIRICAL EVIDENCE: THE CASE FOR UNIVERSAL BEST PRACTICES................................................... 618 EMPIRICAL EVIDENCE: THE CASE FOR THE CONTINGENCY VIEW............................................. 622 SORTING THROUGH THE EVIDENCE....................... 627 SUMMARY......................................................Read MoreFundamentals of Hrm263904 Words   |  1056 PagesStudents achieve concept mastery in a rich, structured environment that’s available 24/7 Instructors personalize and manage their course more effectively with assessment, assignments, grade tracking, and more manage time better study smarter save money From multiple study paths, to self-assessment, to a wealth of interactive visual and audio resources, WileyPLUS gives you everything you need to personalize the teaching and learning experience.  » F i n d o u t h ow t o M A K E I T YO U R S  » Read MoreHuman Resources Management150900 Words   |  604 Pagesof human resources means that they must be recruited, compensated, trained, and developed. † HR Management Challenges The environment faced by HR management is a challenging one; changes are occurring rapidly across a wide range of issues. A study by the Hudson Institute, entitled Workforce 2020, has highlighted some of the most important workforce issues.3 From that and other sources, it appears that the most prevalent challenges facing HR management are as follows: ââ€"  ââ€"  ââ€"  ââ€"  Economic andRead MoreLibrary Management204752 Words   |  820 Pages . . . . . . . . . . . . . 258 Development of a Salary Scale . . . . . . . . . . . . . . . . . . 259 Salary Increases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 260 Recognition and Rewards . . . . . . . . . . . . . . . . . . . . . . 261 Employee Benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . 262 Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 265 12—Other Issues in Human Resource Management . . . 267 Human Resources Policies and Procedures

Services Marketing Dramaturgical Perspective

Question: Discuss about the Services Marketing for Dramaturgical Perspective. Answer: Introduction: A business is consists of two operations, one operates the business organisation from inside and other operates from the outside. As a part of hotel industry, I have analysed the front and back stage operations of Crown Metropol Perth hotel in Australia. The purpose of the study is to analyse the service encounters of the hotel as well as the managerial implications to understand the front and back stage operations. Flowchart Flow Chart (Source: created by author) Front stage Front stage operations refer to the activities that an organisation execute to interact with the clients directly (Wilson et al., 2012). Therefore, the activities regarding the marketing, sales and service or product delivery is included in the part of front stage operations. In this hotel of Australia, some specific group of members does these front stage operations. I have analysed the internal operations of the Crown Metropol Perth hotel, which is situated in Perth of Australia and renowned as one of the luxurious hotels of the country. The entire staff members of the hotel execute the front stage operations of this hotel. The staffs from the reception to the room service provider all are included in this operation. When a guest enters into the hotel from that time, the front stage staffs become active to serve that guest. The Receptionist always serves a guest first, and then the Helpdesk appears to help to solve any problems or queries (Fisk, 2013). The entire staffs of the hotel including the waiters and room service are always ready to help the guest directly with their services. I have gained the practical knowledge of this front stage through analysing this hotels internal operations. Backstage In an organisation, the back stage operations refer to the support process of the activities that are followed and undertaken to deliver the front stage operation properly (Lovelock Patterson, 2015). Therefore, these activities include the administrative operations of the managers and higher authority of any organisation. I have examined the back stage operations of this hotel to analyse the activities of the administrative to run the front stage operations smoothly. The staffs of the kitchen, who serve the foods of the hotel and serve to the guest rooms, are the main part of this back stage operations. The operations of the kitchen staffs for providing the foods to the guests on time are one of the essential parts of the back stage operation. Along with this, the other activities of the internal such as the waste cleaning staffs, room management staffs, managers of the hotel and the staffs who works from the background of the hotel. These are the back stage operations in a hotel, which I have examined after being a part of this hotel. Significance of Service Encounter The service encounter refers to the interaction procedures that are undertaken between the clients and the service providers. This is the interaction of the service organisations with the customers as well as the contact personnel (Hoque, 2013). The service organisation is here the hotel, which I have taken for the analysis of the culture and empowerment of the organisation. The organisation has a belief about the system that contributes to the core values and mission. Therefore, the relationship of the customers and the management is very essential for any organisational industry. In this hotel, the relationship between customers and the organisation is maintained properly. Therefore, the hotel organisation tries to maintain a good relationship with the customers to increase their business profitability. The Customer Relationship is the process to maintain the relationship with the consumers. In this hotel, the consumers mainly lead the organisation. Therefore, the hotel management always try to develop a good relationship with the clients by providing good service. According to Grosbois, (2012), healthy relationship with the customers can increase the profitability of the overall business. If the staffs of the hotel can provide a good service to the customers then they will get good review from them that will helps to increase their popularity in the hotel industry. Good relationship of the organisation and the customers will develop healthy business environments that will bring lasting benefits to the organisation. In this case, the Crown Metropol Perth hotel will increase the competitive advantage of the hotel in the market. This good relation will bring the customers satisfaction, which is very important for any business organisation (Rogers et al., 2016). As the hotel industry is fully dependent on the customers, therefore, the customers should be satisfied. This is the main priority of the hotels to satisfy their customers. Therefore, a proper customer satisfaction will be the main priority of the hotel to gain the business opportunities. This has the opportunity to increase the trust of the customers, which is very essential for retaining the customers and to increase the customers numbers (Artto et al., 2016). Moreover, a good customers relationship management enhance the ability to target profitable consumers as well as improve the overa ll marketing of the particular hotel. I have analysed the service encounter in the hotel and experienced how a development of good relationship can help to increase the overall business profitability. Analysis of Managerial Implications The management is the important part of any business organisation that can increase the profitability and reputation of the organisation, likewise can ruin the reputation of a business if the management take a wrong decision (Trivedi Tripathi, 2015). Therefore, managerial implications are the very essential part of any organisation that affects on the outcome of the business. In this case, I have analysed the managerial implications on the context of the hotel in which I have participation. Therefore, I can understand the managerial impacts of the higher authority of this Crown Metropol Perth hotel. The important responsibilities of the managers in the hotel industry are to implementing proper strategies to improve the business situation towards positivity, which can be possible with a good group of managerial authority. A manager should have some qualities that will improve the internal procedures of the organisation. One of the main qualities that a manager of a hotel should have is keeping the performance log for every employee in the organisation. The performance of every employee should be analysed properly that the performance of any employee could not affect the overall performance of the organisation (Roth, 2013). The managers always judge the employees about their performance level that they can improve their work performance to improve the overall business potential. Additionally, the most important quality that a manager required to have is marinating the good relation with the employees. I have realised one thing that if the manager cannot understand the problems and opportunities of the employees, then the employees cannot express their views about anything before the higher authority. Therefore, the quality of managing a good relationship with the employees is very essential to get an improved business results. The manager should have the quality of giving feedback to the employees perfectly (Haksever Render, 2013). They have to know the way of giving feedback in accurate way. The feedback should be accurate, not be moderate or on any casual basic. The feedback always should be on business oriented and consistence. In this case, the hotel has to possess a good managerial support that can improve the back stage operations that will make smoother the front stage operations. Conclusion While concluding the study, I have analysed the front stage and back stage operation of Crown Metropol Perth hotel to examine the operations of a hotel industry. This study has made me realised that all the operations is related to each other to improve the overall business of an organisation. Reference List Artto, K., Ahola, T., Vartiainen, V. (2016). From the front end of projects to the back end of operations: Managing projects for value creation throughout the system lifecycle.International Journal of Project Management,34(2), 258-270. de Grosbois, D. (2012). Corporate social responsibility reporting by the global hotel industry: Commitment, initiatives and performance.International Journal of Hospitality Management,31(3), 896-905. Fisk, R. P. (2013). Lmpression Management 26 In Services Marketing: A Dramaturgical Perspective.Impression management in the organization, 427. Haksever, C., Render, B. (2013).Service Management: An Integrated Approach to Supply Chain Management and Operations. FT Press. Hoque, K. (2013).Human resource management in the hotel industry: Strategy, innovation and performance. Routledge. Lovelock, C., Patterson, P. (2015).Services marketing. Pearson Australia. Rogers, H., Shaikh, A., Faraj, O. A., Hasan, A. (2016, January). Buoyancy Technology Used Effectively in Casing Running Operations: Case History of Record Length Two-Stage Production Casing String. InSPE/IADC Middle East Drilling Technology Conference and Exhibition. Society of Petroleum Engineers. Roth, S. M. (2013). Stage operations and the mails in new jersey. Trivedi, P., Tripathi, R. P. (2015, May). Design analysis of 16 bit RISC processor using low power pipelining. InComputing, Communication Automation (ICCCA), 2015 International Conference on(pp. 1294-1297). IEEE. Wilson, A., Zeithaml, V. A., Bitner, M. J., Gremler, D. D. (2012).Services marketing: Integrating customer focus across the firm. McGraw Hill.