In a statement today, the ministry said the Income Tax Act
amendments relate to 14 changes that were announced in the 2014 Budget Statement.
Citizens are invited to give feedback on the proposed amendments to the
Income Tax Act starting Friday (July 4) till July 24, the Ministry of
Finance said.
The changes include the extension of the Productivity and Innovation
Credit (PIC) scheme for three years and the introduction of the PIC+
scheme, as well as the extension of tax deductions for research and
development.
There are also some refinements to the Income Tax Act. Also, the Comptroller of Income Tax will be given
additional legislative privilege to deny PIC benefits arising from abusive
arrangements.
If you are in doubt, you may contact them at http://www.reach.gov.sg/ .
Friday, 4 July 2014
Thursday, 3 July 2014
Flight turned back after take-off
Qantas A380 superjumbo flight from Los Angeles to Melbourne turned back
an hour after take-off when a water leak flooded the plane's aisles, said the passengers on Thursday.
The flight returned to Los Angeles International Airport on Wednesday due to water leak.
Qantas said while there were no safety concerns following the leak, the captain decided to turn back "in the interests of passenger comfort".
Passengers were put up in hotels for the night and engineers were working to fix the problem.
"All the passengers in the middle rows, all the middle rows towards the back, started jumping up" said a passengers .
Hollywood actress Nicole Yvette Brown, who was also on the flight, told broadcaster CNN it was the "scariest thing I've ever seen" .
The flight returned to Los Angeles International Airport on Wednesday due to water leak.
Qantas said while there were no safety concerns following the leak, the captain decided to turn back "in the interests of passenger comfort".
"Crew on board did everything they could to help customers, including moving them to unaffected areas and providing spare blankets so they could stay dry,"- Qantas
Passengers were put up in hotels for the night and engineers were working to fix the problem.
"All the passengers in the middle rows, all the middle rows towards the back, started jumping up" said a passengers .
Hollywood actress Nicole Yvette Brown, who was also on the flight, told broadcaster CNN it was the "scariest thing I've ever seen" .
All of a sudden it looked like a trickle at first and I thought someone had spilled like a soda or a pop or something,
N Korea vows further tactical guided-missile tests
North Korea vowed Thursday to push ahead with further strategic guided-missile tests, seeing the Chinese president arrived in Seoul as a snub to Pyongyang.
North Korea has conducted a series of missile tests in the past week -- seen as a display of pique with Chinese President Xi Jinping's state visit to Seoul.
China is North Korea's sole major ally for many years. However Xi has met four times with South Korean President Park Geun-hye, he has yet to sit down and talk with North Korean leader Kim Jong-un.
The United States said the recent missile launches as "problematic", while Seoul and Tokyo also lodged protests.
The first in the series of tests last Thursday was hailed by the North's state media as that of a new "cutting-edge" guided missile which marked a "breakthrough" in the North's military capabilities.
South Korean said the second test on Sunday was two short-range Scud missiles with a range of about 500 kilometres.
On Wednesday, the North fired two rockets with a range of around 180 kilometres (110 miles).
South Korean added that there is many possible motives for the multiple tests.
North Korea has conducted a series of missile tests in the past week -- seen as a display of pique with Chinese President Xi Jinping's state visit to Seoul.
China is North Korea's sole major ally for many years. However Xi has met four times with South Korean President Park Geun-hye, he has yet to sit down and talk with North Korean leader Kim Jong-un.
The United States said the recent missile launches as "problematic", while Seoul and Tokyo also lodged protests.
The first in the series of tests last Thursday was hailed by the North's state media as that of a new "cutting-edge" guided missile which marked a "breakthrough" in the North's military capabilities.
South Korean said the second test on Sunday was two short-range Scud missiles with a range of about 500 kilometres.
On Wednesday, the North fired two rockets with a range of around 180 kilometres (110 miles).
South Korean added that there is many possible motives for the multiple tests.
China's president visits South Korea in to North
President's Xi arrived in Seoul on Thursday for a state visit seen as a snub
to North Korea, whose nuclear weapons
ambitions will dominate talks with South Korean leader Park Geun-hye .
It was Xi Jinping's first trip as head of state to South Korean, and will mark his second summit with Park, who visited China in 2013 .
North Korean leader Kim Jong-un is still waiting for an invitation to Beijing.
North Korea conducted a series of rocket and missile launches into the Sea of Japan (East Sea) last week, triggering protests from Seoul and Tokyo.
Xi and Park will hold their summit after Thursday's welcoming ceremony, and the two leaders are then expected to sign a joint communique.
It was Xi Jinping's first trip as head of state to South Korean, and will mark his second summit with Park, who visited China in 2013 .
North Korean leader Kim Jong-un is still waiting for an invitation to Beijing.
No previous Chinese leader has put South Korea before and above the North like this,- Aidan Foster-Carter (Leeds University)
North Korea conducted a series of rocket and missile launches into the Sea of Japan (East Sea) last week, triggering protests from Seoul and Tokyo.
Xi and Park will hold their summit after Thursday's welcoming ceremony, and the two leaders are then expected to sign a joint communique.
Nano-Satellite launched in Singapore
Orbiting in space, some 650km above Earth, is Singapore’s first nano-satellite.
The VELOX-1 was successfully launched into space on Monday (June 30) by a group of engineering students and researchers from the Nanyang Technological University (NTU) .
The satellite is a unique two-in-one satellite that will deploy another satellite (VELOX-PIII) in a few time. The nano-satellite can take images, and will be used to test other technologies such as an inter-satellite communication system.
Professor Freddy Boey (NTU Provost) said the students have made Singapore proud with the launch of VELOX-I and VELOX-PIII. They were launched on India’s Polar Satellite Launch Vehicle.
To control and monitor its satellites, NTU has built a new Mission Control Centre, which has advanced technology. Operated by NTU students and researchers, it will be the centre of operations for all four NTU satellites presently orbiting space, including future launches.
The VELOX-1 was successfully launched into space on Monday (June 30) by a group of engineering students and researchers from the Nanyang Technological University (NTU) .
The satellite is a unique two-in-one satellite that will deploy another satellite (VELOX-PIII) in a few time. The nano-satellite can take images, and will be used to test other technologies such as an inter-satellite communication system.
Professor Freddy Boey (NTU Provost) said the students have made Singapore proud with the launch of VELOX-I and VELOX-PIII. They were launched on India’s Polar Satellite Launch Vehicle.
It is an excellent showcase of NTU’s leading position in electrical and electronic engineering, and aerospace. It highlights our strengths in applied research and engineering, reinforcing Singapore’s position as an aerospace hub, and is a boost to the development of a local space industry,- Professor Freddy Boey
To control and monitor its satellites, NTU has built a new Mission Control Centre, which has advanced technology. Operated by NTU students and researchers, it will be the centre of operations for all four NTU satellites presently orbiting space, including future launches.
Wednesday, 2 July 2014
Australia emerging as new Casino hotspot
Australia is emerging as the latest hotspot for casino operators as they
look to attract Asian to the tables as well as its
pristine beaches and popular places such as the Great Barrier Reef.
With a mining boom slowing, the prospect of thousands of new jobs and billions in tourist dollars has convinced Queensland and New South Wales to builds four new casinos, despite fears over their potential environmental and social impacts.
Asians culturally liked to gamble and the latest plans were a win-win for state governments, said David Wiadrowski, head of Australian Entertainment and Media at PriceWaterhouseCoopers.
"It is a high-risk strategy, getting the occupancy in the resorts," he added.
The recreation are at various stages of planning, with Queensland, already a popular destination.
With a mining boom slowing, the prospect of thousands of new jobs and billions in tourist dollars has convinced Queensland and New South Wales to builds four new casinos, despite fears over their potential environmental and social impacts.
Asians culturally liked to gamble and the latest plans were a win-win for state governments, said David Wiadrowski, head of Australian Entertainment and Media at PriceWaterhouseCoopers.
For governments, rightly or wrongly, these integrated resorts are an attractive proposition because they create employment opportunities and tax dollars, which they can then put back into the community,- David Wiadrowski
"It is a high-risk strategy, getting the occupancy in the resorts," he added.
The recreation are at various stages of planning, with Queensland, already a popular destination.
Malaysia Police 'hunting' for five militants
Police are on the hunt for five men (including one lecturer) believed to be members of a militant group linked with the Islamic State (IS), an Al-Qaeda breakaway group that declared a caliphate last week.
Tan Sri Khalid Abu Bakar (Inspector-General of Police) said police believe the suspects are hiding somewhere in Philippines.
Three of them were responsible for recruiting and sending militants to Syria and Iraq, part of the ISIL struggle.
Other are members of Darul Islam Sabah, who have joined the Abu Sayyaf terrorist group.
Tan Sri Khalid Abu Bakar (Inspector-General of Police) said police believe the suspects are hiding somewhere in Philippines.
Three of them were responsible for recruiting and sending militants to Syria and Iraq, part of the ISIL struggle.
Other are members of Darul Islam Sabah, who have joined the Abu Sayyaf terrorist group.
Protest for pro-democracy in Hong Kong
Hong Kong police have arrested more than 500 protesters who staged a pro-democracy sit-in at the city's business district.
The arrests came at the end of a largely peaceful rally on Tuesday (July 1) . It was the biggest rally on the street since the city was handed over from Britain to China in 1997. Waving colonial-era flags and shouting anti-Beijing chants, protesters carried banners emblazoned with slogans including "We want real democracy".
Discontent in Hong Kong of some seven million people is at its highest level in years over Beijing's insistence that it vet candidates before a vote in 2017 for next leader.
At the end of Tuesday's march, few hundreds of people joined a sit-in in Hong Kong's business district, with police moving in at 3:00 am to break up the protest.
Police arrested hundreds of people who were participating in an assembly that was not approved.
The arrests came at the end of a largely peaceful rally on Tuesday (July 1) . It was the biggest rally on the street since the city was handed over from Britain to China in 1997. Waving colonial-era flags and shouting anti-Beijing chants, protesters carried banners emblazoned with slogans including "We want real democracy".
Discontent in Hong Kong of some seven million people is at its highest level in years over Beijing's insistence that it vet candidates before a vote in 2017 for next leader.
At the end of Tuesday's march, few hundreds of people joined a sit-in in Hong Kong's business district, with police moving in at 3:00 am to break up the protest.
Police arrested hundreds of people who were participating in an assembly that was not approved.
Singapore to stop issuing $10,000 Notes
Singapore will not be printing $10,000 from October 1. This is to reduce the risks of money laundering, the Monetary Authority of Singapore (MAS) announced on Wednesday (July 2)
The development of more advanced and secured electronic payment systems has reduced the need for large value cash-based transactions, said Director Ong Chong (MAS Deputy Managing) at the ABS Financial Crime Seminar on Wednesday.
Mr Ong also said MAS plans to launch a public consultation on proposed amendments to its regulatory framework to tighten checks against money laundering and terrorist financing. Proposed amendments include requiring banks to screen customers and providing a risk-based approach for “politically exposed persons”.
The development of more advanced and secured electronic payment systems has reduced the need for large value cash-based transactions, said Director Ong Chong (MAS Deputy Managing) at the ABS Financial Crime Seminar on Wednesday.
Existing S$10,000 notes in circulation will remain legal tender, including all notes under the Currency Inter-changeability Agreement with Brunei. However, we expect the stock of such notes to dwindle over time, as worn notes are returned to us and not replaced,- Ong Chong Tee
Mr Ong also said MAS plans to launch a public consultation on proposed amendments to its regulatory framework to tighten checks against money laundering and terrorist financing. Proposed amendments include requiring banks to screen customers and providing a risk-based approach for “politically exposed persons”.
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