Course Detail(TAX226v : GST for SMEs (Synchronous e-learning))
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SkillsFuture Credit, UTAP Funding

TAX226v : GST for SMEs (Synchronous e-learning)

7.00 CPE Hours (Others)
Live Webinar
In Collaboration with:  

This session is delivered via live webinar (zoom platform).

A detailed set of instructions on the Live Webinar will be sent to you closer to date.


Programme Objective
 
While GST administration in Singapore is coming to the 24 years mark, GST registered small and medium enterprises (SMEs) are still playing catch up in terms of GST risk management and alignment of GST updates to match the practical aspects of running business as usual.  

Considering GST is a transactional based tax and there are inherent risks on the supply (e.g. direct deductions of certain items from employee payroll might trigger a need to consider GST) and purchase perspective (e.g. a supplier who provides us with a tax invoice with GST might not be GST registered), GST registered SMEs who have not diligently managed GST risk from such angle could be in for hard landing and the financial consequences may also be significant.

Programme Outline

  • Realignment of GST concepts
  • Common GST slip-ups made by SMEs
  • GST implications relating to recovery of expenses (e.g. meals, transport, dormitory) and direct deductions from payroll (e.g. staff pass, medical co-payment)
  • Art of managing the GST reporting for SMEs
  • Importance of 12 months rule relating to accounts payable
  • Sharing of de-minimis rule and its application
  • Ring fencing the GST risks for SMEs
  • Using Technology to co-manage GST risk
  • Tapping the voluntary disclosure incentive to contain penalty exposure on incorrect classifications with GST impact    

Pre-requisites
Please take note of the following admission requirements:

  • Trainings will be conducted on Zoom platform, thus video camera and microphone are compulsory
  • Mandatory for video camera to be turned on throughout the course
  • Display your official name (as per NRIC) in Zoom, to facilitate attendance taking

Training Methodology
Tutorial style with examples and discussions.
 
Closing Date for Registration
1 week before programme or until full enrolment

Intended For

Personnel involved in GST reporting functions

Competency Mapping

Others = 7.00 Hours

Schedule & Fees
Date & Time

23 Aug 2024 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 318.28
For Non-Members: $ 382.59

Programme Facilitator(s)

Richard Ong

Venue

Online Classroom in or outside of
Singapore
Date & Time

11 Nov 2024 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 318.28
For Non-Members: $ 382.59

Programme Facilitator(s)

Richard Ong

Venue

Online Classroom in or outside of
Singapore

Testimonial


Informative and interesting session with opportunities to clear doubts by asking questions. Good case studies provided by the trainer as well.

Past Participant


This programme has help me have more clearer picture on how to apply GST treatment on my work when doing the GST reporting

Past Participant


The instructor is very knowledgeable and shared some relevant examples so that we can relate and apply accordingly

Past Participant


This program has helped me to understand more about IRAS's perceptive on the GST

Past Participant


I enjoyed Mr. Richard Ong's GST course very much. He provided various applicable examples and encourages
participation. Highly recommended to anyone who is looking for refresher GST concepts or even pick up new
GST knowledge.

Past Participant

Funding

1] SkillsFuture Credit (SFC)
Funding Period: Until 31 Dec 2024
Course Reference Number: TGS-2020502863

All Singaporeans aged 25 and above will receive an opening credit of S$500 from the government. You may wish to use your SFC to pay for partial/full ISCA course fees. 

On 1 Oct 2020, the Government provided a one-off SkillsFuture Credit Top-up of $500 for all eligible Singaporeans aged 25 or above by 31 Dec 2020. Singaporeans aged 40 to 60 by 31 Dec 2020 will also receive an Additional SkillsFuture Credit (Mid-Career Support) of $500 which can be used for courses under: (i) SGUnited Skills Programme, (ii) SGUnited Mid-Career Pathways Programme – Company Training, and (iii) Career Transition Programmes. This additional SFC (Mid-Career Support) is NOT applicable for use on ISCA courses. (For more information on the SFC scheme, please visit http://www.skillsfuture.sg/credit)

If you wish to enrol for the course with SFC Funding, please proceed with the following steps:

Failure to submit claim application and obtain necessary approval before the course start date will result in topping up of the SFC indicated for use. Please note that there will be an administrative fee of $43.20 for any revision of invoice.

 

2] NTUC Union Training Assistance Programme (UTAP)
UTAP (Union Training Assistance Programme) is an individual skills upgrading account for NTUC members.

To find more on the UTAP funding and support validity period please click here.


Should you have queries on the funding scheme, you can email to UTAP@e2i.com.sg or call NTUC Membership Hotline at 6213-8008

Programme Facilitator(s)


Richard Ong
Accredited Tax Advisor (GST) of the Singapore Institute of Accredited Tax Professionals (SIATP)

Richard heads the GST Division in RSM Tax Pte Ltd.
 
He has over 20 years of experience in GST including his time with the Inland Revenue Authority of Singapore (IRAS), Deloitte & Touche LLP, and United Test and Assembly Center Ltd (UTAC). His diverse background with the tax authority, professional and commercial firms allows him to share with seminar participants a balanced view and approach towards GST risk management and compliance.
 
Richard has spoken at public seminars in Singapore and Malaysia on topics such as Understanding Goods & Services Tax, Managing GST Risks, the GST Assisted Self-help Kit (ASK) and Malaysia GST.

This session is delivered via live webinar (zoom platform).

A detailed set of instructions on the Live Webinar will be sent to you closer to date.


Programme Objective
 
While GST administration in Singapore is coming to the 24 years mark, GST registered small and medium enterprises (SMEs) are still playing catch up in terms of GST risk management and alignment of GST updates to match the practical aspects of running business as usual.  

Considering GST is a transactional based tax and there are inherent risks on the supply (e.g. direct deductions of certain items from employee payroll might trigger a need to consider GST) and purchase perspective (e.g. a supplier who provides us with a tax invoice with GST might not be GST registered), GST registered SMEs who have not diligently managed GST risk from such angle could be in for hard landing and the financial consequences may also be significant.

Programme Outline

  • Realignment of GST concepts
  • Common GST slip-ups made by SMEs
  • GST implications relating to recovery of expenses (e.g. meals, transport, dormitory) and direct deductions from payroll (e.g. staff pass, medical co-payment)
  • Art of managing the GST reporting for SMEs
  • Importance of 12 months rule relating to accounts payable
  • Sharing of de-minimis rule and its application
  • Ring fencing the GST risks for SMEs
  • Using Technology to co-manage GST risk
  • Tapping the voluntary disclosure incentive to contain penalty exposure on incorrect classifications with GST impact    

Pre-requisites
Please take note of the following admission requirements:

  • Trainings will be conducted on Zoom platform, thus video camera and microphone are compulsory
  • Mandatory for video camera to be turned on throughout the course
  • Display your official name (as per NRIC) in Zoom, to facilitate attendance taking

Training Methodology
Tutorial style with examples and discussions.
 
Closing Date for Registration
1 week before programme or until full enrolment

Intended For

Personnel involved in GST reporting functions

Competency Mapping

Others = 7.00 Hours

Programme Facilitator(s)

Richard Ong
Accredited Tax Advisor (GST) of the Singapore Institute of Accredited Tax Professionals (SIATP)

Richard heads the GST Division in RSM Tax Pte Ltd.
 
He has over 20 years of experience in GST including his time with the Inland Revenue Authority of Singapore (IRAS), Deloitte & Touche LLP, and United Test and Assembly Center Ltd (UTAC). His diverse background with the tax authority, professional and commercial firms allows him to share with seminar participants a balanced view and approach towards GST risk management and compliance.
 
Richard has spoken at public seminars in Singapore and Malaysia on topics such as Understanding Goods & Services Tax, Managing GST Risks, the GST Assisted Self-help Kit (ASK) and Malaysia GST.

Upcoming Schedule

Date & Time

23 Aug 2024 (9:00 AM - 5:00 PM)
Fee (inclusive of GST)

For Members: $ 318.28
For Non-Members: $ 382.59

Programme Facilitator(s)

Richard Ong

Venue

Online Classroom in or outside of
Singapore


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