Expert Info

Posted by
on 27 Oct 2014
Hi All company is looking at moving me over Qtr 1/2 2014, my current Net pay is AUD$9000/month. I have travel to Singapore numerous times over the last 18 months so know the city center and airport but that’s about it. Office is located along Beach Rd The Concourse. My wife and two boys (1.5 and 3.5 yo) will be joining. Wife is has now finished early teaching degree, but no experience graduates now. My boys are both in child care 2-3 days a week and we would like continue this for social interaction and their development. We have looked at AIS school and it’s about $20,000 per year per child for 3 days a week Do you know how much i should negotiate or take into consideration for the following, are there any standard of what a company would be willing to pay 1. Salary increase (tax rate 15%), is my current pay good enough to live comfortably 2. Accommodation rental payment (3br - by looking online are about $5000/month near AIS) 3. International school fees/applications ($20,000 per year per child) 4. Transport and return flights to home country are they possible Thanks in advance for any advice
Anonymous (not verified) on 28 Oct 2014 - 00:56
Hi, Kane, What you are asking could all be provided as part of an assignment package. The answer often depends on the driver of your move and the longer-term plan between you and your employer. You will only be able to benefit from the lower tax regime in Singapore if your employment is being transferred from Australia to Singapore because of residency rules in Australia - and also assuming your employer is not planning to put you on tax equalization. There are also tax planning opportunities in Singapore to further reduce your tax liability. Is your employer providing you with logistical and technical support for the relocation? You may consider getting some help to assess the totality of your package and identify planning opportunities that may help your negotiation with your employer and to ensure there are no surprises, financially. If you decide that you do need assistance, you may consider tapping into my international experience as qualified tax advisor from Big 4 and having been head of global mobility with some of the largest MNC's. Since the subject matter could be relatively technical and personal in nature, I'd suggest that we take the discussion offline if you'd like to further the dialog. You will find my credentials and references in the public domain. Hope this helps!

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