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Relocating to Singapore

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siclif
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Relocating to Singapore

Post by siclif » Thu, 18 Aug 2011 11:04 am

All
I have been recently offered a role with a company is Singapore but the company is not offering any relocation package. Given the role is senior and a good career move I am stuck between deciding whether to take it on or not.

I wanted to get some advice on if I do take the offer and no relocation is offered will it be too expensive for me to make the move given I will be funding it? Also what are the tax implications can I claim my move to Singapore on my tax when I start earning there as my company is not reimbursing the cost?

I will really appreciate some help.

JayCee
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Re: Relocating to Singapore

Post by JayCee » Thu, 18 Aug 2011 11:35 am

siclif wrote: I wanted to get some advice on if I do take the offer and no relocation is offered will it be too expensive for me to make the move given I will be funding it?
As you've not given us even a rough idea of how much you make it's impossible to say. 5K relocation for someone on 15K a month wouldn't break the bank, but for someone on 5K it might do.
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sundaymorningstaple
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Re: Relocating to Singapore

Post by sundaymorningstaple » Thu, 18 Aug 2011 11:42 am

siclif wrote:All
I have been recently offered a role with a company is Singapore but the company is not offering any relocation package. Given the role is senior and a good career move I am stuck between deciding whether to take it on or not.

I wanted to get some advice on if I do take the offer and no relocation is offered will it be too expensive for me to make the move given I will be funding it? Also what are the tax implications can I claim my move to Singapore on my tax when I start earning there as my company is not reimbursing the cost?

I will really appreciate some help.
Compared to AU, the tax rates here are extremely low. There are limited to no deductions available. e.g., there are no deductions for moving expenses, like the US and or AU (I'm assuming there, as I'm not an Ozzie). On the other hand the tax rates here are extremely low, from 0 to 20% (noting that the 20% rate isn't reached until your income exceeds 320K/pa)

As to will be too expensive? Depends on what you plan on moving and your pain threshold I suppose.
SOME PEOPLE TRY TO TURN BACK THEIR ODOMETERS. NOT ME. I WANT PEOPLE TO KNOW WHY I LOOK THIS WAY. I'VE TRAVELED A LONG WAY, AND SOME OF THE ROADS WEREN'T PAVED. ~ Will Rogers

siclif
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Re: Relocating to Singapore

Post by siclif » Thu, 18 Aug 2011 1:31 pm

Hi Jaycee, the pkg on offer is approx 200k pa including bonuses.

JayCee
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Post by JayCee » Thu, 18 Aug 2011 1:37 pm

Jesus, you're making that much money and you're worried about whether you can afford to pay for a couple of plane tickets and a container to ship some stuff over?? You'll be fine (unless you have huge debts or something else we're not aware of).

As a sidenote, very surprising to hear that a company will pay you that much but won't stump up 10K or so moving you over. Did you push for the move or did they ask you?
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siclif
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Post by siclif » Thu, 18 Aug 2011 1:56 pm

Jaycee there are no debts :-) but its good to know what I will be up against if I was to decide and take it up. Don't want a surprise and want to be well prepared.

Part of the reason they not willing to pay relocation as they reckon they are paying a higher salary, a tradeoff I guess.

Thanks for your reply gives me some confidence now.

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