HOW SINGAPORE OFFERS BETTER TAX RELIEF THAN AUSTRALIA?

Many investors are moving towards Australia and Singapore. However, which one is suitable for you in terms of saving taxes? Let’s take a look why quick

company formation will suggest you to start your new business venture in Singapore.

EASY TAX STRUCTURE

Tax structure of Singapore is over simplified. You just have to pay flat 17% off tax and there are certain benefits for different businesses. However, the Australian tax structure is quite complex with three level assessment rules.

TAXABLE INCOME

Singapore government levy taxes only if the have earned

profits in while operating in the country or profits earned in

other country if funds remitted in Singapore while Australia

levy taxes on the profits earned worldwide.

Rate of Tax

At Singapore rate of tax is 17% flat apart from other exemption which they provide to various

businesses, which is 30% in Australia.

TAX ON GOODS AND SERVICES

The rate of GST is 7% in Singapore which is 10% in

Australia. Also, its is mandatory to register business for GST in

Singapore after earning a revenue of 1 million SGD which

is 75,000 AUD in Australia.

Dividend

There are no taxes on dividend income in

Singapore, while it is compulsory in Australia.

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Now you must be thinking to save your money from taxes by incorporating your business in Singapore. Now get in touch with Quick Company Formation and earn more profits.