Useful IRAS presentation on allowable deductions for self employed / partnerships

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PNGMK: Moderator; Posts: 8902; Joined: Thu, 21 Mar 2013 9:06 pm; Answers: 2; Location: Sinkapore

Useful IRAS presentation on allowable deductions for self employed / partnerships

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Post by PNGMK » Tue, 12 Jul 2022 8:33 am

https://www.iras.gov.sg/media/docs/defa ... 9c1b2248_7

This lays out what is deductible and the required accounting if you're running a sole proprietorship or small business or partnership.

Interesting factoids - private car expenses are completely disallowed for business (even if on business) but entertainment expenses are allowed.... so take your customer out, get pissed and use a taxi.

I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
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Myasis Dragon: Reporter; Posts: 530; Joined: Wed, 05 Feb 2020 7:13 am; Answers: 5

Re: Useful IRAS presentation on allowable deductions for self employed / partnerships

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Post by Myasis Dragon » Tue, 12 Jul 2022 10:27 am

Good stuff. Thanks.

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