Anonymous

06 Apr 2021

∙

For sole business owners, do you pay yourself a salary? Any tips or tricks for reducing corporate tax through dividends or other methods?

I've just incorporated a company, annual profit 150k.

2

Discussion (2)

What are your thoughts?

Learn how to style your text

Zaydennnn

06 Apr 2021

Putting things that youre paying personally under company expenses, legal tax exemptions like paying for your worker's phone bill.

you can connect with me thru LinkedIn!

cheers,

Zayden Tan

Reply

Save

Han Jinyuan Larry

13 Jan 2021

SwimSafer 2.0 Instructor & Assessor at SWIMWITHUS

Paying yourself a salary is recorded as expenses.
Revenue - Expenses.

Reply

Save

Write your thoughts

Related Posts

Filing corporate taxes for 2020 will become easier for SMEs, with a new simplified Corporate Income Tax Return form and more digital solutions being implemented this year. Any SME owners here to share if this is indeed an easier process?

What is the best way to optimise the buying of dividend paying US stocks since Singapore imposes a tax dividend on them?

Can I use the business expenses of my side business to reduce the income tax incurred from my full-time employment?

If I do not have to pay any taxes in a particular year because I have enough reliefs/rebates that reduce my tax to $0, does it still make sense to contribute to SRS?

My parents are in debt and I give the bulk of my salary to them. The rest of my salary is used to pay off my own university loans, transport, phone bills, insurance. How do I help my family live more comfortably and reduce our debt?

Related Posts

Filing corporate taxes for 2020 will become easier for SMEs, with a new simplified Corporate Income Tax Return form and more digital solutions being implemented this year. Any SME owners here to share if this is indeed an easier process?

What is the best way to optimise the buying of dividend paying US stocks since Singapore imposes a tax dividend on them?

Can I use the business expenses of my side business to reduce the income tax incurred from my full-time employment?

If I do not have to pay any taxes in a particular year because I have enough reliefs/rebates that reduce my tax to $0, does it still make sense to contribute to SRS?

My parents are in debt and I give the bulk of my salary to them. The rest of my salary is used to pay off my own university loans, transport, phone bills, insurance. How do I help my family live more comfortably and reduce our debt?