Payroll Year-End Tax Returns Workshop

Course details

This workshop aims to strengthen your understanding of IRAS' regulations and also how you can better comply with the company's tax obligations when filing employees' earnings so as to avoid unnecessary penalties. At this workshop, we will review critical compliances which companies tend to overlook and the documentation necessary to avoid errors in year-end reporting.

Upon completion of this workshop, you will be armed with many valuable tips on the subject. You will have a clearer understanding of how to prepare for and complete the different payroll year-end returns, an awareness of the employer's obligations and responsibilities, and how to avoid the penalties.

Year-end Basics

• Responsibilities of Employer
• Timetable for submission of year-end returns
• Penalties for inaccurate or late submission
• Importance of reconciliation of year to date payroll reports

Year-end Returns and other Income Tax Reporting (Overview)

• Step by step review of each year-end form including:
  IR8A, A8A, IR8B, IR8S, IR21
• How to complete each form and many valuable tips on year-end procedures
• Avoiding common mistakes made in filing
• Tax Treatment of Benefits in Kind
• Other monetary and non monetary benefits provided/paid by Employers

Computation of Benefits in Kind with Case Studies

• Accommodation
• Air Passage
• Per Diem
• Car-related items
• Stock Options

Employee's Perspective

• Forms of Tax Relief
  • Area Representative Scheme, NOR, SRS
• Personal Income Tax Structure for YA2013
• Enhancement of Tax Deduction on Donations