PR application....

[sundaymorningstaple]

http://forum.singaporeexpats.com/ftopic82231.html

[zzm9980]

The Supplementary Retirement Scheme is available for non-PRs and non-citizens. Functions very similarly to CPF when it comes to contributions (there are differences of course; just don't remember all of them). Participation by companies, however, is optional if not unknown by most companies though.

Yeah. The big money-making benefit (at least to me) is the employers (almost) matching contribution into CPF, and both contributions being tax-free. That'll cover a significant chunk (or all) of most any mortgage.

In most cases the employer's contribution to CPF is no benefit. Because AFAIK, most companies that I know of will restructure your salary so in effect both the employer's contribution comes from the same original salary so after taking PR your take home reduces drastically.

Some companies, like mine, give the employers contribution to a private pension fund and employees also need to contribute and after applying for PR we move to the CPF so again no benefit there.

There are very few companies where you actually get a real "bump up" in your salary because of the employers contribution.

This was previously discussed into the ground; every company is different. The general consensus was only certain MNC financial institutions seemed to pay employer CPF contribution to foreigners. The two examples I recall (one of which I worked for) were StanChart that had a retirement fund of some sort, and Visa that just tacked it on to payroll. My current company doesn't pay it, and I don't expect them to lower my salary if I become PR either.

[bluenose]

Well over 2 months since I applied for PR and have heard nothing.....not too worried as am sure MOM are looking at it thoroughly...hope to hear this side of Christmas

[Steve1960]

WOW....
Bit of a process this PR stuff.....
I had to note down all the times I had been in and out the country since I became EP.....being in the oilfield....thats a lot!
They want to know all sorts.....even details of my family members that are not applying for PR!

I have an appointment on 14 August....so here's hoping!!


One question.....what are the benefits of PR over EP???

Really, wow! Can you please advise what details they asked for. Is it just date out, country and date back in? Or is it more detailed? I travel a lot so it makes sense that I start the travel listing now even though I ahve not applied for PR.

[Strong Eagle]

WOW....
Bit of a process this PR stuff.....
I had to note down all the times I had been in and out the country since I became EP.....being in the oilfield....thats a lot!
They want to know all sorts.....even details of my family members that are not applying for PR!

I have an appointment on 14 August....so here's hoping!!


One question.....what are the benefits of PR over EP???

Really, wow! Can you please advise what details they asked for. Is it just date out, country and date back in? Or is it more detailed? I travel a lot so it makes sense that I start the travel listing now even though I ahve not applied for PR.

This is all happening because of those who have abused PR. They get a PR and promptly move back to India/PRC, contributing little or nothing. They exclude children to avoid NS. They use PR to bring in countless relatives.

If you've got a permanent Singapore address, pay Singapore taxes, and travel for "reasonable" periods to other locales, you shouldn't have any issues. OTOH, if you've been out of country for a year... what's "permanent" about that?

[Steve1960]

I thought I might give PR a shot around next April, the first anniversary of my time living here in Singapore. However, I know from this forum that it would be better if I have paid some income tax here.

UK mentality is to defer paying tax for as long as possible so what I am about to say feels a little alien!

Does anyone know if there is an express method of paying ones income tax? From what I gather the formal bill could arrive anywhere between May and October. What if I wanted to pay it in January or February?

[Strong Eagle]

I thought I might give PR a shot around next April, the first anniversary of my time living here in Singapore. However, I know from this forum that it would be better if I have paid some income tax here.

UK mentality is to defer paying tax for as long as possible so what I am about to say feels a little alien!

Does anyone know if there is an express method of paying ones income tax? From what I gather the formal bill could arrive anywhere between May and October. What if I wanted to pay it in January or February?

I think one year will be far too short. I applied in 2007 at the end of my EP, and was almost rejected until I submitted the records of the company I created and ran.

Tax payments matter... it is an indicator of a) how well you can support yourself, and b) how you will contribute to the well being of Singapore, finance wise. If you are a low earner, you won't get PR because you probably won't get your pass renewed. If you are a high earner that pays little or nothing in tax, you'll be seen as cutting corners.

There is an express method of paying income taxes. Your employer will have filed an IR8A form listing your income. You go to the IRAS website, confirm your income, add any other income and expenses/charitable contributions and press the button. You see your total tax assessment, and shortly receive a tax statement.

[Steve1960]

I think one year will be far too short. I applied in 2007 at the end of my EP, and was almost rejected until I submitted the records of the company I created and ran.

Tax payments matter... it is an indicator of a) how well you can support yourself, and b) how you will contribute to the well being of Singapore, finance wise. If you are a low earner, you won't get PR because you probably won't get your pass renewed. If you are a high earner that pays little or nothing in tax, you'll be seen as cutting corners.

There is an express method of paying income taxes. Your employer will have filed an IR8A form listing your income. You go to the IRAS website, confirm your income, add any other income and expenses/charitable contributions and press the button. You see your total tax assessment, and shortly receive a tax statement.

Yes, I am concerned one year is too short. However, I have relocated here as General Manager and my employer has substantial growth plans. I was going to try writing a supporting letter outlining all the postive things I will be doing for Singapore and my commitment to living here long term. Oh and it's not bulls*it, this is genuinely the plan.

I know from this site that tax matters. I don't intend to pay my first year of tax in monthly instalments I will just make the one off payment as early as I can. I am a high earner and employed so I guess I will be paying the tax the government expects so no corner cutting.

Thank you for the advice on express payment.

[bluenose]

Well,
3 months after applying for PR with a Singaporean wife, own condo, own company and last 6 years taxes paid.....have heard .....nothing.....

Me thinks this could be a long drawn out process

[offshoreoildude]

You applied too late in the year. Most of the quote for your race/profession/gender/family status and income level is probably used up. ICA holding back some for special last minute cases before year end.

[Callput]

Well,
3 months after applying for PR with a Singaporean wife, own condo, own company and last 6 years taxes paid.....have heard .....nothing.....

Me thinks this could be a long drawn out process

Hi,

I applied for my PR at the end of June 2012 and then after 2 months I was asked to submit additional details of my family members, which I did promptly, its already 4 months now and still pending. Fingers crossed,

[offshoreoildude]

Well,
3 months after applying for PR with a Singaporean wife, own condo, own company and last 6 years taxes paid.....have heard .....nothing.....

Me thinks this could be a long drawn out process

Hi,

I applied for my PR at the end of June 2012 and then after 2 months I was asked to submit additional details of my family members, which I did promptly, its already 4 months now and still pending. Fingers crossed,

See above. Probably too late. You'll have to try again for next years quota. If you hadn't screwed up the application in the first place (missing details? more like you didn't list them all) you'd be ok. Singapore is cutting down HARD on PR - miss a dot on an i or a cross on a t and you're round filed.

[sundaymorningstaple]

There are no published quotas, however, there are extremely tightened criteria.

[Callput]

Well,
3 months after applying for PR with a Singaporean wife, own condo, own company and last 6 years taxes paid.....have heard .....nothing.....

Me thinks this could be a long drawn out process

Hi,

I applied for my PR at the end of June 2012 and then after 2 months I was asked to submit additional details of my family members, which I did promptly, its already 4 months now and still pending. Fingers crossed,

See above. Probably too late. You'll have to try again for next years quota. If you hadn't screwed up the application in the first place (missing details? more like you didn't list them all) you'd be ok. Singapore is cutting down HARD on PR - miss a dot on an i or a cross on a t and you're round filed.

Thanks, I have been stalking on this forum for quite sometime now and have gained immense knowledge out of it. I must thank all the experts here who have posted so much information, it helped me a lot while deciding on my PR application.

Anyways, I hadn't missed anything on the original application, I have read that there are others also who have been asked to submit additional details about family members.

Regarding the timing of application during the year, I really hope that they hold on to my application until next year, for consideration into next year's quota, if there is such a thing

[offshoreoildude]

Hi,

I applied for my PR at the end of June 2012 and then after 2 months I was asked to submit additional details of my family members, which I did promptly, its already 4 months now and still pending. Fingers crossed,

See above. Probably too late. You'll have to try again for next years quota. If you hadn't screwed up the application in the first place (missing details? more like you didn't list them all) you'd be ok. Singapore is cutting down HARD on PR - miss a dot on an i or a cross on a t and you're round filed.

Thanks, I have been stalking on this forum for quite sometime now and have gained immense knowledge out of it. I must thank all the experts here who have posted so much information, it helped me a lot while deciding on my PR application.

Anyways, I hadn't missed anything on the original application, I have read that there are others also who have been asked to submit additional details about family members.

Regarding the timing of application during the year, I really hope that they hold on to my application until next year, for consideration into next year's quota, if there is such a thing

You don't think there's a quota? Maybe not in exact numerical terms but someone somewhere says - "enough have got in this calendar/financial/Chinese/political year/month/period".