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 Claim up to
S$5,000 GST
Assistance Grant today
... to buy an accounting software and computers
Back by popular demand, SPRING has extended the
grant to 30 June 2009. Do not miss the
opportunity again.
For many businesses with annual turnover
below S$1.0M, GST registration is not mandatory.
However absorbing a hefty 7% GST can seriously reduce their profit
margins. Being GST-registered means you don't
need to absorb anymore! However for some others,
it is not worthwhile to be registered. You may
want to know:
1. How does being GST-registered (or otherwise)
affect your profitability?
2. What are the costs for you to comply with GST
registration?
3. How does A21 Financial Accounting help my
company?
4. What is the mechanism of this GST Assistance
Scheme Grant?
5. How do we qualify, and can we claim up to 100%
subsidy?
We have the answers for
you.
Fill up the form below to arrange
for an appointment.
 Goods
& Services Tax (GST) Assistance Scheme
for SMEs Who
Opt For Voluntary GST Registration
This is an assistance scheme for SMEs who
voluntarily register to be a Goods and Services
Tax (GST) trader from 1 March 2007.
For
who?
All local businesses
which have opted for voluntary GST registration
with IRAS and wish to set up or improve their
accounting system and processes to be GST-compliant.
Your
business qualifies as long as:
- Your
business is incorporated in Singapore
- Your
fixed assets are not more than S$15 million*
- You
have no more than 200 employees (for non-manufacturing companies)*
- You
have not previously registered as a GST trader
- Your
voluntary GST registration is approved from 1 March 2007 to
31
March 2009 30 June 2009 (extended by SPRING)
* Computed on a
group basis i.e. checking up to 3 levels for
corporate shareholders holding 20% or more of
the total shareholding in the company and 1
level down where the company holds more than 50%
of the shareholding in a subsidiary company.
For
What?
To defray part of the cost of setting up an
accounting IT system including the cost of
engaging an external expert.
How Much?
The GST Assistance Scheme
supports up to 100% of accounting
software costs, and 50% of the qualifying costs
for the following cost items, subject to a
maximum grant of $5,000 per company:
- Professional
fees and training costs charged by third party IT consultants;
- Hardware
costs; and
- Subscription
fees for internet connection for up to 1 year.
Things to Note
- You
can apply for the GST Assistance Scheme only once
- Your
application for the GST Assistance Scheme should be submitted
to SPRING Singapore within three months upon
IRAS' approval of your voluntary GST registration.
- Your
project should be completed within 6 months
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To know more about
the grant, please fill in the form below:
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Strength
of A2000 -> Government Grants -> SPRING GST
Assistance Grant