FELIXION CONSULTING

If you are a listed company, you must hold an AGM within four months after your company’s financial year end and file the annual return within five months after your company’s financial year end.

If you are not a listed company, you must hold an AGM within six months after your company’s financial year end and file the annual return within seven months after your company’s financial year end.

A “small company” is exempt from auditing their financial statements. A company qualifies as a small company if:

(a) it is a private company in the financial year in question; and

(b) it meets at least 2 of 3 following criteria for immediate past two financial years:

1. total annual revenue ≤ $10m;
2. total assets ≤ $10m;
3. no. of employees ≤ 50.

CPF Contribution Changes from 1 January 2025:-

(a) Increase in CPF Ordinary Wage ceiling from 1 January 2025

The OW ceiling will be raised to $8,000 by 2026. There will be no change to the CPF annual salary ceiling of $102,000, which sets the maximum amount of CPF contributions payable for all salaries received in the year, inclusive of both Ordinary Wages and Additional Wages.

(b) Increase in CPF Contribution Rates from 1 January 2025 

From 1 January 2025, the CPF contribution rates for employees aged above 55 to 65 will be increased to strengthen their retirement adequacy.