Hi all,
Seeking for some advice here as it's the first time I'll become a self-employed status - if you are self-employed appreciate your help!
Background:An Australian company is trying to hire me as first person in Singapore (they do not have an entity in Singapore yet), and the plan is to bring in business first and subsequently setup an entity here.
Therefore, they can only offer me a "contractor" agreement and will not be paying Employer
CPF.
Have checked with an employment lawyer - I am definitely considered self-employed and can only seek legal resolution in Australia in the event if they default on salary etc.
Annual salary: 120K
Questions:- What are my CPF implications aside from compulsory Medisave? I understand I can make voluntary OA/SA contributions monthly
- What are my income tax implications? I understand I have to declare my income on an annual basis?
- Any other implications as a self-employed?