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 Working Life in Singapore V5

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giorgene
post Mar 30 2011, 12:31 PM

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QUOTE(seantang @ Mar 30 2011, 10:21 AM)
Guys, I've got a USD cheque from a US bank (BNY) which I need to bank in or encash. Have any of you done a survey of the best ways or best banks to bank that cheque in? Thanks.
*
If I'm not wrong, Malaysia CIMB gives the cheapest clearance charges
crapp0
post Mar 30 2011, 04:24 PM

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QUOTE(toughnut @ Mar 29 2011, 10:08 PM)
@alaskanbunny,
currently engineering dept already slowed down. last few month massive hiring.

@reign226
one of the shipyard smile.gif
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Its either keppel, sembawang or jurong.

My bet is sembawang since keppel tuas recent bonus payout was 8.5.
masconan
post Mar 30 2011, 04:36 PM

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Hi avyone. I am new here.

Jus wondering if I earn S$2.5 k, what is the tax rate charge for foreigner (Malaysian)in SG?

and do our income will be taxed again by Malaysian gov.?
crapp0
post Mar 30 2011, 04:44 PM

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QUOTE(masconan @ Mar 30 2011, 04:36 PM)
Hi avyone. I am new here.

Jus wondering if I earn S$2.5 k, what is the tax rate charge for foreigner (Malaysian)in SG?

and do our income will be taxed again by Malaysian gov.?
*
Our income is not taxed by the malaysian government since were not working in malaysia and malaysia does not tax repatriated monies.

Burmese on the other hand is a different case. I was talking to a filipino and he told me that his country is facing the problem that overseas filipinos who repatriate money back are actually damaging or at best making their own country uncompetitive. Anybody have a theory on this?
masconan
post Mar 30 2011, 04:56 PM

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QUOTE(crapp0 @ Mar 30 2011, 04:44 PM)
Our income is not taxed by the malaysian government since were not working in malaysia and malaysia does not tax repatriated monies.

Burmese on the other hand is a different case. I was talking to a filipino and he told me that his country is facing the problem that overseas filipinos who repatriate money back are actually damaging or at best making their own country uncompetitive. Anybody have a theory on this?
*
Ok. Then nex question,

if I earn S$2.5 k, what is the tax rate charge for foreigner (Malaysian)in SG, non-PR holder?

L7Awesome
post Mar 30 2011, 04:56 PM

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QUOTE(crapp0 @ Mar 30 2011, 04:44 PM)
Our income is not taxed by the malaysian government since were not working in malaysia and malaysia does not tax repatriated monies.

Burmese on the other hand is a different case. I was talking to a filipino and he told me that his country is facing the problem that overseas filipinos who repatriate money back are actually damaging or at best making their own country uncompetitive. Anybody have a theory on this?
*
Hmm... it should be the other way. Money repatriate back to their respective country should be good for their country. However, I believe that if the country continue to lose skilled workers to another country, then less 'high-tech' foreign investor will want to go into that country. With that, it will cause the country to lose their competitive edge. Thus, more people will lose out and the country as a whole will lose out even with the money sent back. That's my theory...


Added on March 30, 2011, 4:59 pm
QUOTE(masconan @ Mar 30 2011, 04:56 PM)
Ok. Then nex question,

if I earn S$2.5 k, what is the tax rate charge for foreigner (Malaysian)in SG, non-PR holder?
*
I got taxed 15% the first year working here (less than 1/2 years). :-(. But I did gain back some tax deduction in Malaysia though since my pay is based on 1/2 year in Malaysia.

This post has been edited by L7Awesome: Mar 30 2011, 04:59 PM
seantang
post Mar 30 2011, 05:12 PM

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QUOTE(L7Awesome @ Mar 30 2011, 04:56 PM)
I got taxed 15% the first year working here (less than 1/2 years). :-(.  But I did gain back some tax deduction in Malaysia though since my pay is based on 1/2 year in Malaysia.

I think you can appeal when you file your tax return for the 2nd year and they will adjust your 2nd year tax payable accordingly to account for a lower tax payable for your 1st year based the fact that your tax residency actually started in your 1st year. Give IRAS a call or go through their website.

evilnickwong
post Mar 30 2011, 05:16 PM

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QUOTE(washabushi @ Mar 30 2011, 10:09 AM)
Odin not mistaken u can transfer via ebanking now without commission...go check their website...
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This would be remittance right?
I did take a look at the form before, I think there's a $20 charge from DBS.

Apart from that, will CIMB charge any fees for receiving remittance from Singapore?
seantang
post Mar 30 2011, 05:27 PM

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QUOTE(giorgene @ Mar 30 2011, 12:31 PM)
If I'm not wrong, Malaysia CIMB gives the cheapest clearance charges

Yeah, seems like a flat S$10 if banked into a S$ account with them. Other banks charge the 0.125% commission and other fees no matter what. Thanks giorgene. Lucky the Knightsbridge branch is very near my office. I'll drop by tomorrow to enquire.

Foreign Currency Cheques Collection Cleared Locally

1 USD cheques drawn on local clearing participating banks
Free

2 Other currency cheques and USD cheques drawn on non-participating banks
$10 per cheque if credited to Payee's SGD Account.
1/8% commission (min $10, max $200) per cheque if credited to Payee's Foreign Currency Account (including Brunei Dollar) + agent fee (if applicable)

3 Ringgit Cheques Drawn In Bank of Malaysia
$10 per cheque
bellion
post Mar 30 2011, 05:27 PM

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QUOTE(crapp0 @ Mar 30 2011, 04:44 PM)
Our income is not taxed by the malaysian government since were not working in malaysia and malaysia does not tax repatriated monies.

Burmese on the other hand is a different case. I was talking to a filipino and he told me that his country is facing the problem that overseas filipinos who repatriate money back are actually damaging or at best making their own country uncompetitive. Anybody have a theory on this?
*
The Philippines depend heavily on overseas remittances of funds to prop its economy up - in 2009, total remittances amounted to USD 17.3 billion.

I would say it's beneficial rather than damaging as the Philippines has an acute lack of decent job opportunities for its workers and the money has to come from somewhere.
crazy25kid
post Mar 30 2011, 05:31 PM

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QUOTE(evilnickwong @ Mar 30 2011, 05:16 PM)
This would be remittance right?
I did take a look at the form before, I think there's a $20 charge from DBS.

Apart from that, will CIMB charge any fees for receiving remittance from Singapore?
*

I tried Pay2Home.
Fix rate of S$9 per transaction to Malaysia.
No hidden charges.
Not sure if there is any other better options.
Can I refer you to register (which is free)? laugh.gif laugh.gif

This post has been edited by crazy25kid: Mar 30 2011, 05:32 PM
reign226
post Mar 30 2011, 09:21 PM

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QUOTE(washabushi @ Mar 30 2011, 10:09 AM)
Odin not mistaken u can transfer via ebanking now without commission...go check their website...
*
Nothing is free. Definitely there will be some charges. The advertising they are putting up is quite misleading, 0 bank fees or something like that.

QUOTE(crapp0 @ Mar 30 2011, 04:24 PM)
Its either keppel, sembawang or jurong.

My bet is sembawang since keppel tuas recent bonus payout was 8.5.
*
There's two keppels in Tuas. One was 8.5, the other slightly higher =)


QUOTE(crazy25kid @ Mar 30 2011, 05:31 PM)
I tried Pay2Home.
Fix rate of S$9 per transaction to Malaysia.
No hidden charges.
Not sure if there is any other better options.
Can I refer you to register (which is free)?  laugh.gif  laugh.gif
*
That is quite cheap. Usually I do at JP money changer will get charged $10 with slightly better rates. Currently considering opening a Maybank Sg account, as you can transfer directly to Maybank Malaysia via Regionlink with a fee of $15, plus the slightly worse exchange rates for bank.

teddynick
post Mar 30 2011, 09:52 PM

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QUOTE(walanneh @ Mar 29 2011, 10:38 AM)
Hi all, I'll be starting work at Singapore next month. I'm currently looking for a place to stay and I've some enquiries.

1.) Did you find your place using an Agent?
2.) Is it the norm for a 1 year contract to be signed?
3.) How much was your deposit and is it true that rental in Singapore is 1 month forward?
4.) How much was your Agent fees?

Thanks in advance.
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1. Yes, an agent is needed to do the tenancy agreement plus get the necessary approvals from the HDB authority for my case
2. Yes, but depends - I have seen some agreements which are only 6 months in length
3 & 4. 1 month deposit, 1 month forward and 1/2 month's agent fee
yeahs4.1
post Mar 30 2011, 10:14 PM

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QUOTE(L7Awesome @ Mar 30 2011, 04:56 PM)
Hmm... it should be the other way.  Money repatriate back to their respective country should be good for their country.  However, I believe that if the country continue to lose skilled workers to another country, then less 'high-tech' foreign investor will want to go into that country.  With that, it will cause the country to lose their competitive edge.  Thus, more people will lose out and the country as a whole will lose out even with the money  sent back.  That's my theory...


Added on March 30, 2011, 4:59 pm

I got taxed 15% the first year working here (less than 1/2 years). :-(.  But I did gain back some tax deduction in Malaysia though since my pay is based on 1/2 year in Malaysia.
*
15%? Are you earning 160K per year?

CODE

RATES OF TAX FOR YEAR OF ASSESSMENT 2011      
     
Your chargeable income is the amount remaining after deducting from your assessable income the personal reliefs to which you are entitled.  If you are a resident in Singapore, the rates of tax chargeable are as follows:      
     
"Chargeable Income" Rate Gross Tax Payable  
                                        $ (%) $  
On the first 20,000 0 0  
On the next 10,000 3.5 350  
On the first 30,000                  350  
On the next 10,000 5.5 550  
On the first 40,000                  900  
On the next 40,000 8.5 3,400  
On the first 80,000                  4,300  
On the next 80,000 14 11,200  
On the first 160,000                15,500  
On the next 160,000 17 27,200  
On the first 320,000                42,700  
Above                   320,000 20  

Source: http://www.iras.gov.sg/irasHome/page01.aspx?id=88


This post has been edited by yeahs4.1: Mar 30 2011, 10:26 PM
seantang
post Mar 30 2011, 10:24 PM

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QUOTE(yeahs4.1 @ Mar 30 2011, 10:14 PM)
15%? Are you earning 160K per year?

15% is the non-resident withholding tax rate. It's a flat rate.

SUSalaskanbunny
post Mar 31 2011, 12:00 AM

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QUOTE(masconan @ Mar 30 2011, 04:56 PM)
Ok. Then nex question,

if I earn S$2.5 k, what is the tax rate charge for foreigner (Malaysian)in SG, non-PR holder?
*
if u work a whole year, it would be around 400...
jr`
post Mar 31 2011, 10:26 AM

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guys, im a mechanical engineer fresh grad currently looking for job in singapore through jobsdb. however, i noticed that most positions are open for singaporeans/SPR only.

question is, must I apply SPR through http://www.smcmc.com first before looking for a job?

please advice smile.gif
spitzupipu
post Mar 31 2011, 11:13 AM

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QUOTE(jr` @ Mar 31 2011, 10:26 AM)
guys, im a mechanical engineer fresh grad currently looking for job in singapore through jobsdb. however, i noticed that most positions are open for singaporeans/SPR only.

question is, must I apply SPR through http://www.smcmc.com  first before looking for a job?

please advice smile.gif
*
if PR is that easy to apply for whoever wants to work here, singapore would now become a small version of crowded india.
u dont have to be spr to look for a job. but if it states SPR only, u can still send ur resume but 99% chance they wont call u.
tailtwist
post Mar 31 2011, 11:15 AM

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QUOTE(seantang @ Mar 30 2011, 10:24 PM)
15% is the non-resident withholding tax rate. It's a flat rate.
*
Different tax rates apply for tax residents and non-residents. You will be treated as a tax resident for a particular Year of Assessment (YA) if you are a:

Singaporean; or
Singapore Permanent Resident (SPR) if you have established your permanent home in Singapore; or
Foreigner who stayed/worked in Singapore for 183 days or more in previous year (excludes director of a company).
Otherwise, you will be treated as a non-resident of Singapore for tax purposes.
source

jasperng
post Mar 31 2011, 01:47 PM

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QUOTE(crapp0 @ Mar 28 2011, 10:34 PM)
Oh dude, you got one of the f***** up engineering companies man. Their nothing but cheap labour fronts for keppel and various other shipyards. Their more like manpower companies rather then being a true engineering firm. That and kwong soon engineering all hire alot of bangla and indian workers. Plus all the old timers at the shipyards like to bully these people for no good reason other then to inflate their self esteem.

I would suggest you try other companies, i heard NOV, halliburton or WOM are looking for people. You could give them a try. Btw, WOM means world oilfield machine.
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haha their office is located at an old and dilapidated building +_+ ...i do see alot of indian and bangla going in and out at the office when i went for interview =(

what is NOV btw ? ... thanks for your advice.

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