Course Detail()

Programme Objective

Entrepreneurs often wonder whether they should set up business under sole proprietorship/partnership (unincorporated business) as opposed to under a private limited company (incorporated business). This 1-day webinar by ISCA will provide participants a good understanding on the tax treatment between unincorporated and incorporated businesses and what are some of the common pitfalls to avoid when deciding whether to convert an unincorporated business to a company.

Programme Outline

A Highlight of Key Areas:

Taxation of unincorporated business - sole proprietorship, general partnership, limited liability partnership and limited partnership
Taxation of incorporated business - company, shareholders and directors
Taxability of income including foreign-sourced income exemption scheme for unincorporated and incorporated business
Deduction of expenses including renovation and refurbishment expenses and Enterprise innovation scheme announced in 2023 and 2024 Budget
Capital allowance claim
Basic tax planning tips for business owners
Tax consideration on conversion from unincorporated business to incorporated business – common pitfalls to avoid

Learning Outcome

On completion of this course, participants will have an appreciation on:

The difference in the tax treatment between unincorporated and incorporated business to the business owners
The fundamentals on taxable income, deductible expenses and capital allowance claim
Basic tax planning for business owners
Various tax considerations when converting an existing unincorporated business to a company

Training Methodology

Live Webinar with exercises, examples and case studies

Closing Date for Registration
1 week before programme or until full enrolment.

Intended For

Business owners, Finance professionals, Accountants

Schedule & Fees

Testimonial

Past Participant

Funding

1] NTUC Union Training Assistance Programme (UTAP)

NTUC members enjoy 50% *unfunded course fee support for up to $250 each year when you sign up for courses supported under UTAP. NTUC members aged 40 and above can enjoy higher funding support up to $500 per individual each year, capped at 50% of unfunded course fees, for courses attended between 1 July 2020 to 31 December 2025.

*Unfunded course fee refers to the balance course fee payable after applicable government subsidies. This excludes material fees, registration fees, misc. fees etc.

This course is approved for UTAP support for intakes conducted between 08 February 2024 – 31 March 2025.

As UTAP is given on calendar year basis, and calculated based on year of training taken, it cannot be accumulated.

Maintained paid-up NTUC membership before course, throughout course duration and at the point of claim and;
Course by training provider must be supported under UTAP and training must commence within the supported period and;
Unfunded course fee must not be fully sponsored by company or other types of funding
Unfunded course fee must be S$20.00 and above, and;
Member must achieve a minimum of 75% attendance for each application and sat for all prescribed examination(s), if any and;
UTAP application must be made within 6 months after course ends.

For more information on UTAP Funding and to submit for UTAP claims, please visit https://www.ntuc.org.sg/uportal/programmes/union-training-assistance-programme. Terms and conditions apply.

Programme Facilitator(s)