facebookIs there a difference between being self-employed and being a business owner? - Seedly

Advertisement

Kitty

13 Apr 2020

βˆ™

SeedlyTV

Is there a difference between being self-employed and being a business owner?

My dad is an owner of a small shop, not sure if he will still be eligible for the SIRS. (Self Employed Income Relief Scheme) If not, are there any funds that he is eligible for?
He does not have any employees (it's pretty much a one-man show over there)

SeedlyTV S2E01

Discussion (4)

What are your thoughts?

Learn how to style your text

Colin Lim

12 Apr 2020

Financial Services Consultant at Colin Lim

Yes, your dad is consider as self-employed. First of all, make sure he do up his income tax, pay his medisave arrears.

View 1 replies

There's only two distinctions: i) employee ii) self-employed

From IRAS:

  • Owner of a business that buys and sells goods and/ or services

  • Hawker (you are the owner of a hawker business or a food stall)

  • Direct seller

all counts under self-employed.

Source; https://www.iras.gov.sg/irashome/Businesses/Sel...

View 1 replies

Write your thoughts

Advertisement