Last year's budget has a Wage Credit Scheme where the G subsidizes 40% of the wage increase for workers. Many small enterprises cannot qualify for this subsidy, as they do not fit the criteria set in the budget.
This year, the G is continuing this scheme. I suspect that it is the larger companies that are benefiting from the scheme, and not the small companies.
I find it so wasteful to spend so much tax payer's money to benefit the wrong type of businesses.
It would have been better if the G had subsidized all of the employer's CPF contribution up to a certain limit per company. This is simpler, and the money is going to the right places.
I find our finance minster to be ineffective, and he is wasting so much tax payer's money without achieving the goal of improving productivity and making small business sustainable.
Take a look at the number of small companies reporting losses in each year .... 100,000 of them. This is a bad situation for Singapore.
http://c-onyx.com/pdf/1744
This year, the G is continuing this scheme. I suspect that it is the larger companies that are benefiting from the scheme, and not the small companies.
I find it so wasteful to spend so much tax payer's money to benefit the wrong type of businesses.
It would have been better if the G had subsidized all of the employer's CPF contribution up to a certain limit per company. This is simpler, and the money is going to the right places.
I find our finance minster to be ineffective, and he is wasting so much tax payer's money without achieving the goal of improving productivity and making small business sustainable.
Take a look at the number of small companies reporting losses in each year .... 100,000 of them. This is a bad situation for Singapore.
http://c-onyx.com/pdf/1744
what about your own company >
ReplyDeleteare you making a profit ?