Search found 35 matches

by Cohen123
Wed, 13 Feb 2019 7:49 am
Forum: Strictly Speaking
Topic: Bank Account after renouncing SG-ship
Replies: 43
Views: 9504

Re: Bank Account after renouncing SG-ship

I can barely comprehend what the ATO is saying... however I think you're are ok and do no have to declare your CPF as Australian income or capital gains if you close down CPF and withdraw the total amount ("amounts deposited") from the fund but income accumulated (which is both interest and contrib...
by Cohen123
Tue, 12 Feb 2019 6:12 pm
Forum: Strictly Speaking
Topic: Bank Account after renouncing SG-ship
Replies: 43
Views: 9504

Re: Bank Account after renouncing SG-ship

Mad Scientist wrote:Yes on both of your questions. I do not need cooling off period as situations were getting out of control then
Hi MS,

Here’s hoping I am able to get the renunciation and CPF withdrawal all in ONE day.
by Cohen123
Tue, 12 Feb 2019 11:22 am
Forum: Strictly Speaking
Topic: Bank Account after renouncing SG-ship
Replies: 43
Views: 9504

Re: Bank Account after renouncing SG-ship

Yes. Not much interest to declare there, as it is an everyday account, but I did. In case any one is keen on reading ATO rulings on CPF , here are 2 links. They do not mention SG CPF but the details are more than coincidental. I don’t have the accountancy expertise to decipher what it means. I think...
by Cohen123
Tue, 12 Feb 2019 10:13 am
Forum: Strictly Speaking
Topic: Bank Account after renouncing SG-ship
Replies: 43
Views: 9504

Re: Bank Account after renouncing SG-ship

From my experience, I had no problem with DBS and Citibank. Bear in mind , I had this done many years ago and rules may change. Once I had the CPF withdrawal approved from CPF, I showed them my POSB account to the CPF officer as POSB and DBS account remittance is done on the same day whereas other ...
by Cohen123
Tue, 12 Feb 2019 8:43 am
Forum: Strictly Speaking
Topic: Bank Account after renouncing SG-ship
Replies: 43
Views: 9504

Re: Bank Account after renouncing SG-ship

Hello, Kind sharong from someone that I would be given a renunciation letter at ICA. With this letter, I can approach the bank to change details. Also the renunciation at ICA, presenting yourself in person will take about 6 weeks to process. Only after that, will they issue a letter for the CPF to w...
by Cohen123
Mon, 11 Feb 2019 5:19 pm
Forum: Strictly Speaking
Topic: Bank Account after renouncing SG-ship
Replies: 43
Views: 9504

Re: Bank Account after renouncing SG-ship

Hello, I had a terrible time with U** bank trying to withdraw some money sometime back. They refused to entertain any form of ID another than the pink IC. I showed them my driving license but they would not accept it. Hence that’s why I am asking how to maintain a bank account in SG, have the CPF mo...
by Cohen123
Mon, 11 Feb 2019 12:01 pm
Forum: Strictly Speaking
Topic: Bank Account after renouncing SG-ship
Replies: 43
Views: 9504

Re: Bank Account after renouncing SG-ship

Hello PNGMK, Yes, I have been declaring all interest earned including that in CPF since becoming tax resident. If I transfer the whole lump sum to Australia, do you know what sort of documentation ATO would require any documentation to show that I amassed the bulk of it before becoming tax resident?...
by Cohen123
Mon, 11 Feb 2019 8:05 am
Forum: Strictly Speaking
Topic: Bank Account after renouncing SG-ship
Replies: 43
Views: 9504

Re: Bank Account after renouncing SG-ship

Hi Mad Scientist, Thank you foryour reponse. I have no more ties in SG and am at an age where I would no longer be employable. It’s harder to be an older person in SG. I travelled around a little bit after I lost my job and I have since established myself here in AUS and find my life here, though no...
by Cohen123
Mon, 11 Feb 2019 7:21 am
Forum: Strictly Speaking
Topic: Bank Account after renouncing SG-ship
Replies: 43
Views: 9504

Re: Bank Account after renouncing SG-ship

Hi Mad scientist ,

Thank you for sharing your experiences and post.

Can I just clarify that if I renounce IN Person at ICA, I would be able to get the letter to withdraw from CPF on the same day i renounce?
by Cohen123
Sun, 10 Feb 2019 8:08 pm
Forum: Strictly Speaking
Topic: Bank Account after renouncing SG-ship
Replies: 43
Views: 9504

Bank Account after renouncing SG-ship

I am about to start process of renouncing SG ship and withdraw CPF.

After giving up the pink IC, would the bank still accept my foreign ID as alternative form of ID ? I remember they were quite adamant in my showing them pink IC for some transactions.

Any one with such experiences ?
by Cohen123
Thu, 27 Dec 2018 11:17 am
Forum: Strictly Speaking
Topic: CPF lump sum transfer to Australia
Replies: 4
Views: 2175

Re: CPF lump sum transfer to Australia

Thank you very much for your info.

Always appreciate your help.
by Cohen123
Thu, 27 Dec 2018 5:36 am
Forum: Strictly Speaking
Topic: Don't want to renounce Singapore citizenship
Replies: 9
Views: 7141

Re: Don't want to renounce Singapore citizenship

Hi.

Read your posting.

What happened in the end ?

Did the renunciation take place or were you able to find an alternative resolution ?
by Cohen123
Wed, 26 Dec 2018 6:20 pm
Forum: Strictly Speaking
Topic: Advice needed : Renunciation in SG or remotely ?
Replies: 6
Views: 2179

Re: Advice needed : Renunciation and Passport

Thanks. Want to avoid any fines or any detention coming into the country with the intention of giving up the red passport. Hence this posting to ask for information. Has someone SG here been fined for having dual nationality ? Or someone who has done the renunciation recently (either at ICA SG or re...
by Cohen123
Wed, 26 Dec 2018 12:37 pm
Forum: Strictly Speaking
Topic: Advice needed : Renunciation in SG or remotely ?
Replies: 6
Views: 2179

Re: Advice needed : Renunciation and Passport

Appreciate your reply and insight. Does it mean risking arrest ? I completed my NS resevist obligation years ago. I guess at some point those renouncing will have dual nationality, since they will not be allowed to renounce unless they produce evdience of having acquired another nationality. Have yo...
by Cohen123
Wed, 26 Dec 2018 5:44 am
Forum: Strictly Speaking
Topic: Advice on renouncing Singapore citizenship
Replies: 1
Views: 3848

Re: Advice on renouncing Singapore citizenship

Hello, Just read your forum. Did you eventually go back to SG in March? What’s your experience like when you renounced the citizenship ? Similar situation here and would like to find out if I should make the trip back. I heard it’s faster at ICA than going to High Comm. And the forms, wow, so much i...

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