Accounting and Tax

COVID-19 (“Coronavirus”) Advisory

In view of the ongoing workplace restrictions, we will be operating remotely during the stipulated period.

For Company Registration and Secretarial matters please call or whatsapp 8666 3633

For AGM filing matters, please call or whatsapp 8877 2223

For Accounting and Tax matters, please call or whatsapp 8813 3833

As part of ContactOne’s effort to help combat and mitigate the spread of COVID-19 (“Coronavirus”), we have made amendments to our appointment and verification process.

We regret to inform we will not be able to arrange for face to face appointment during this period.

Instead of conducting the usual face to face meeting with our valued clients, clients may now submit the relevant documents listed below to us via email and we will conduct video calls to continue with the verification and due diligence procedures required to register a Company, appoint a Secretary, or effect a statutory change to your Company.

We thank you for your understanding

Accounting and Tax

ContactOne Professional Services offers a wide range of accounting and tax support to emerging and small to medium enterprises. Our services include bookkeeping, compilation of financial statements, payroll management, tax planning, corporate tax services and GST filing submissions.

Our services are highly customizable and we are able to support your business depending on the exact need of your accounting and tax requirements.

Package Financial Statement and Tax All-In-One Financial Statement + Tax + AGM Full Fledged Accounting and Secretarial Package
Pricing

$650

per year

$790

per year

fr. $1 000

per year

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Free 12 months XERO Accounting Software#      
Compilation of Financial Statements
  • Estimated Chargeable Income filing within 3 months from your accounting year end
  • Preparation of Main Tax Computation
  • Preparation of Additional Tax Schedules required
  • Tax Filing of Form C-S to IRAS (Fee subject to changes for Form C filing)
   
Company Secretarial Support
  • Provision of named company secretary for the Company
  • Preparation of Standard AGM documents
  • Submission of Annual Return to ACRA
  • E-Reminder Service to remind Company of deadlines
 
Bookkeeping Service (Inclusive of GST Reporting)  

# Free XERO Accounting Sign Up is available for existing customers who are currently not subscribed to XERO accounting, has a minimum of 30% local shareholdings and has an OCBC Business Account. If you renew your XERO subscriptions via ContactOne after the free period, you will continue to enjoy further discounts off retail subscription fees that you will need to pay if you subscribe yourself.

XERO Collaborative Accounting Services

XERO Accountant Plan

Save substantial annual or quarterly bookkeeping fees if you can:

  • raise invoices with XERO
  • set up and maintain bank link between XERO and your business bank account
  • enter payment transactions in XERO

If you are able to do all of the above, we recommend the XERO Accountant Plan starting from $100 / quarter or annum (depending on the frequency you would like us to review your record keeping)

 

XERO Transactions Plan

Enjoy superior bookkeeping rates if you are able to:

  • set up and maintain bank link between XERO and your business bank account
  • provide sales listing for us to enter into XERO
  • let us enter your payment invoices into XERO for you

If you are able to do the above, we recommend the XERO Transactions Plan starting from $200 / quarter or annum (depending on the frequency you would like us to do your bookkeeping)

 

XERO ALL IN plan

Enjoy seamless and integrated payment and receipts for your business PLUS accounting services

What we can do for your business

  • set up XERO accounting ecosystem
  • identify existing manual transaction work that can be automated
  • recommend automation solutions that makes dollar sense suitable to the scale of your business
  • create an ecosystem of bank feeds, invoice receipts and payment process to eliminate the need for double recording work

What you will get in return:

  • Guaranteed reduction in preparation time for your accounts
  • Reasonable accounting fees that includes supplier and payroll payment preparation
  • You will just need to review the payment transactions and authorise your bank to pay via a few clicks of on your phone or laptop.

 

XERO ALL IN PLAN includes

  • a one time consultation and set up fee starting from $300
  • subsequent monthly fee starting from $500
  • accounting services, payroll services and supplier payment preparation

 

All XERO PLAN clients will get discounted XERO subscription rates if they subscribe via ContactOne.

Traditional Bookkeeping Services

Our bookkeeping services will translate your business transactions into useful financial information relating to your company performance. You will be able to review your company financials using the management report package generated by us, which can include the following reports:

  • Balance Sheet
  • Profit and Loss
  • General Ledger
  • Accounts Payable / Accounts Receivable Listing
  • Fixed Asset Schedule
  • GST Report for GST Registered Clients
  • Bank Reconciliation

1 x 40mm File

Approx. 50 – 120 transactions

$450 – $900

Bookkeeping Fee

$550

FS Compilation and Tax Filing

1 x 75mm File

Approx. 130 – 200 transactions

$950 – $1 500

Bookkeeping Fee

$550

FS Compilation and Tax Filing

The above 2 examples are sample cases for illustration purposes to roughly estimate the number of transactions in a typical file. We will need to review your actual files to give you a more accurate fee estimate.

Compilation of Financial Statements

The financial statements compilation aspect is the portion whereby all your bookkeeping records are translated into a proper accounts, presented in accordance applicable accounting standards in Singapore. You will typically need financial statements for the purpose Annual General Meetings, tax submission and accountability to shareholders of the Company. In some instances the financial statements are used to obtain banking facilities, apply for government grants and to meet regulatory requirements in specific industries.

Our Fees – Compilation Fee for Unaudited Financial Statements

From $375

Additional fees associated with unaudited financial statements compilation

$50

Inclusion of fixed assets disclosure

$100

Inclusion of Bank Loan and/or Hire Purchase disclosures

Fr. $400

Compilation of Parent Company with Group Level reporting

$50 – $200

Any other additional FRS disclosure requirements

$321

Translation of Financial Statements to XBRL format (financial highlights)

Fr. $642

Translation of Financial Statements to XBRL format (full set)

Payroll Service

Payroll is an essential expense and there are regulations governing staff pay. We are able to assist you areas such as:

  • Calculation of monthly Employee salary and statutory CPF deductions
  • Preparing salary disbursement schedule for your staff and to the CPF board
  • Submission of monthly CPF e-Filing
  • Preparation of Cheque to staff for monthly salary disbursement
Monthly payroll service for Fixed Salary payroll

$100

Up to 5 staff members

$13 / employee

From 6 – 30 employees

$10 / employee

From 31 – 100 employees

Talk to us

More than 100 employees

$50

Preparation of Monthly CPF Upload File

$5 per staff

Preparation of Cheques to Staff

$50

Cheque Deposit Service on behalf of Staff

$50

Monthly GIRO file preparation

Monthly payroll service for Variable Salary Payroll (Commission based, Overtime, Non-Fixed)

$150

Up to 5 staff members

$18 / employee

From 6 – 30 employees

$13 / employee

From 31 – 100 employees

Talk to us

More than 100 employees

$50

Preparation of Monthly CPF Upload File

$5 per staff

Preparation of Cheques to Staff

$50

Cheque Deposit Service on behalf of Staff

$50

Monthly GIRO file preparation

One Time Payroll Services

$100

CPF Account Registration

$250

Bank Account GIRO setup

From $80 per staff

Preparation of IR8A

Corporate Tax Submission

All companies need to submit their tax returns in the relevant Year of Assessment pertaining to the financial year passed. Let us assist you in ensuring that your tax filing are done on time, without missing out on useful deductions available to your company. Our corporate tax services assist you in the:

  • Preparation of Tax Computation and tax schedules
  • Filing of Estimated Chargeable Income 3 months after your Financial Year End
  • Filing of Corporate Tax Return in Form-C or Form C-S in the relevant Year of Assessment
  • Liaison with IRAS to answer queries relating to your tax matters
Our Fees – Corporate Tax Services

$375

Form C-S with Tax Computation

$590

Form C with Tax Computation

Note: Form C-S is applicable for a Singapore incorporated company that has annual turnover of $5M or below ($1M for YA2016 and before), derives only income taxable at 17% and is not claiming for carryback of CA/Losses, Group Relief, Investment allowance, R&D Allowance, Foreign Tax Credit and Tax deducted at Source.

$100

For Tax Returns with Capital Allowance, PIC allowance or S14Q R&R claims

$150 – $350

PIC Cash Payout Submission

From $50

Other ad-hoc tax services

For Companies who have completed the accounts on their own or have their accounts done up by other external accountants

Contact us directly via phone at 6333 0633 or email us at [email protected].

Our tax specialists will go through your accounts to ensure your accounts are sufficiently done up for the purpose of corporate tax submission.
We will need you to provide the following documents for us to commence your tax work:

  • Audited/Unaudited Financial Statements for the financial year to be filed
  • Detailed Profit and Loss
  • General Ledger
  • Fixed Asset Listing
  • Prior Year Corporate Tax filing computation and filing records
  • IRAS correspondences (if any)
  • GST Form 5 filings for the year (if you are GST registered)
  • Source documents for transactions that took place during the financial year to be filed (to be provided on request only)
  • Any other supporting schedules that may be needed, depending on the nature of your business and accounting methods