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IRAS collected S$47 billion in tax revenue in FY2016/17. [7] Tax arrears remained low at 0.68% of net tax assessed and cost of collection was also kept low at 0.84 cents for every dollar collected. In FY2016/17, IRAS uncovered 10,626 non-compliant cases and recovered about $332 million in taxes and penalties through rigorous audits and ...
Also used for death benefit payments made by an employer but not made as part of a pension, profit-sharing, or retirement plan.) 5 Prohibited transaction. (This generally means the account is no longer an IRA.) 6 Section 1035 exchange (a tax-free exchange of life insurance, annuity, qualified long-term care insurance, or endowment contracts). 7
A nonspouse IRA beneficiary must either begin distributions by the end of the year following the decedent's death (they can elect a "stretch" payout if they do this) or, if the decedent died before April 1 of the year after he/she would have been 72, [a] the beneficiary can follow the "5-year rule". The suspension of the RMD requirements for ...
The Central Provident Fund Board (CPFB), commonly known as the CPF Board or simply the Central Provident Fund (CPF), is a compulsory comprehensive savings and pension plan for working Singaporeans and permanent residents primarily to fund their retirement, healthcare, and housing [3] needs in Singapore.
The statutory boards of the Government of Singapore are autonomous organisations that have been tasked to perform an operational function by legal statutes passed as Acts in the Parliament of Singapore. The statutes define the purpose, rights and powers of each authority. These organisations would usually subsequently report to one specific ...
When a person dies in a place which is not a house, or a dead body is found elsewhere than in a house, every relative of the deceased person having knowledge of any particulars required to be registered concerning the death, and every person present at the death, and every person taking charge of the body, and, if the death occurs in a ship or ...
R (on the application of SG and others) v Secretary of State for Work and Pensions was a 2015 judgment by the Supreme Court of the United Kingdom where by a majority of 3–2 the court ruled that the benefit cap, a British government policy limiting welfare benefits, was legal. [1]
Singapore Real Estate Exchange (SRX) is a consortium of leading real estate agencies administered by StreetSine Technology Group in Singapore. [1] The Exchange provides the prices of recently sold properties to participating real estate agents more rapidly than conventional, official channels run by the Urban Redevelopment Authority and Housing Development Board.