Additional conveyance duties for stake transfers of property-holding entities into living trusts

Additional conveyance duties for stake transfers of property-holding entities into living trusts

Finance Minister Lawrence Wong has introduced a bill to amend the Stamp Duties Act to help plug gaps in existing policies. Effective Tuesday, additional conveyance duties will apply to the transfers of shares of property-holding entities into living trusts. This…

Household, corporate debt situation in Singapore expected to remain resilient: Alvin Tan

Household, corporate debt situation in Singapore expected to remain resilient: Alvin Tan

The number of financially distressed consumers who sought help from banks has decreased over the past year. This update was given by Minister of State for Trade and Industry Alvin Tan, after MPs asked if there have been more such…

Parliament passes new Bill to improve adoption laws and practices in Singapore

Parliament passes new Bill to improve adoption laws and practices in Singapore

Parliament has passed a new Bill to improve adoption laws and practices, as part of efforts to better safeguard the child’s welfare. This includes stricter guidelines for potential adopters, including preventing ex-offenders of serious crimes from adopting a child, and…

Lockdown in Shanghai has not significantly affected Singapore's supplies: Low Yen Ling

Lockdown in Shanghai has not significantly affected Singapore’s supplies: Low Yen Ling

The lockdown in Shanghai has not significantly affected Singapore’s supplies. Minister of State for Trade and Industry Low Yen Ling was responding to MPs worried about the global supply chain crunch. She said Singapore’s reliance on China for items like…

Govt to work with town councils to review structure of S&CC operating grants

Govt to work with town councils to review structure of S&CC operating grants

The government will work with town councils to review the structure of service and conservancy charges operating grants. It will also consider measures to cushion the impact of rising costs on residents. Senior Minister of State for National Development Sim…

No other cheating cases found apart from 11 trainee lawyers who cheated in 2020 Bar exams: Shanmugam

No other cheating cases found apart from 11 trainee lawyers who cheated in 2020 Bar exams: Shanmugam

No other cheating cases were found apart from the 11 trainee lawyers who did so in the 2020 Bar exams. Law Minister K Shanmugam updated Parliament, following findings by the exam administrator. MPs were asking whether there were safeguards in…

MPs fined at least $10,000 to be disqualified after Parliament raises quantum from $2,000

MPs fined at least $10,000 to be disqualified after Parliament raises quantum from $2,000

Minister-in-charge of the Public Service Chan Chun Sing said Singapore’s constitution has to strike a balance between wide representation and fitness for office. As part of a review of the constitution, the fine quantum to be disqualified as a Member…

Employers facing manpower shortages urged to hire workers who held short-term COVID-19 roles

Employers facing manpower shortages urged to hire workers who held short-term COVID-19 roles

Around 5,200 people in short-term COVID-19 roles, such as safe distancing ambassadors and vaccination centre staff, will need new jobs when their contracts end in the coming months. Manpower Minister Tan See Leng was responding to MPs asking about plans…

Societal costs of enlisting women into National Service will outweigh benefits: Ng Eng Hen

Societal costs of enlisting women into National Service will outweigh benefits: Ng Eng Hen

The societal costs of enlisting women into compulsory National Service would outweigh the benefits. Defence Minister Ng Eng Hen said, for one, manpower shortages in some industries could get worse. Responding to MPs, he added that the main reason for…

Public should not delete TraceTogether apps or discard tokens: Ong Ye Kung

Public should not delete TraceTogether apps or discard tokens: Ong Ye Kung

People who lost or threw away their TraceTogether tokens or gateway boxes should report it. Health Minister Ong Ye Kung gave the assurance that the priority is replacing them, in case they are needed again. He added that people should…

Singapore's review of COVID-19 response to focus on first phase of pandemic

Singapore’s review of COVID-19 response to focus on first phase of pandemic

Singapore has started reviewing its response to COVID-19 in order to prepare for the next pandemic. The government said details will be released when the review is complete. Finance Minister Lawrence Wong said, for now, the after-action review will cover…

Singapore's central bank gets more powers to regulate virtual asset service providers

Singapore’s central bank gets more powers to regulate virtual asset service providers

New laws empower Singapore’s central bank to prevent cryptocurrency platforms from being used to launder money and finance terrorism. It will mean new licensing and inspections on Singapore-based virtual asset service providers. People from the finance sector who were involved…