ASH NEWS BITES
OCTOBER 2024 EDITION
IN THE SPOTLIGHT
XERO INVOICING INTRODUCES NEW FEATURES
Xero's new invoicing version, launched on 2nd September has introduced features to simplify workflows and boost productivity. Users have been gradually switched to the updated invoicing experience. Once you are transitioned, you will notice the new features every time you log in.
For those who prefer the old system, Xero has extended access to classic invoicing until 9 AM NZT on 20 November. After that, the classic version will be retired, so now is the perfect time to explore and get familiar with the upgraded invoicing tools!
BLOG OF THE MONTH
Make Sure Your Financial Statements Meet ACRA’s Standards
Meeting ACRA's financial reporting standards is crucial. Falling short of accounting standards risks penalties and loss of trust. Ensure your financial statements uphold transparency and protect your company's reputation!
NEWS AND INFO
Singapore's Tax Revenue up 17%, with Over S$80 Billion Collected
Singapore collected S$80.3 billion (US$61.4 billion) in tax revenue for 2023/2024, a 17% rise from the previous year. The IRAS attributed this increase to strong economic and wage growth in 2022.Undertaker Roland Tay given S$12,000 Fine and Penalty of About S$529,000 for Tax Offences
Well-known undertaker Roland Tay Hai Choon was fined S$12,000 (US$9,200) and ordered to pay a penalty of more than S$529,000 for tax offences by a court on Thursday (Sep 5).
CPF Daily Withdrawal Limit Cut From S$200,000 to S$50,000 in Anti-Scam Move
Starting Sep 25, the daily CPF withdrawal limit will be lowered from S$200,000 to S$50,000 to safeguard against scams, the Central Provident Fund Board (CPFB) announced on Aug 22.TIPS AND TRICKS
BENEFITS OF FILING YOUR COMPANY’S TAXES ON TIME
ENJOY INSTALMENT
PAYMENTS
AVOID PENALTIES
AND INTEREST
GAIN PEACE
OF MIND
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EARLY FILING