I signed up the eBay Seller OnRamp Course that train you to sell on ebay.
Very interesting, its consist of 3 lessons of 1 hr each over the phone and its FREE. Today is my first lesson (but i skip straight to lesson 2 as i already completed all of lesson one on my own).
Basically, its a step by step guide over the phone 1. to register with ebay and paypal (get yourself certified) 2. Sell internationally (you need to pay insertion fee for this) and 3. ebay store and Q and A.
You can register here at http://pages.ebay.com.sg/onramp/ if you are interested in this training.
Manage to post my first item for international exposure (i.e. posting in ebay.com) and keep my finger cross that someone will bid for my item !!!. ^.^"
Thursday, June 7, 2007
Tuesday, June 5, 2007
Trading in ebay Singapore
Recently started selling some old stuff on ebay. Response quite good, managed to sell off some stuff that is lying around for some "allowance". Haha.
Did some trading and even got some free games from ebay (indirectly). I bought a bundle of 9 xbox games from a very nice lady for S$98 dollars. Turn out that 2 of the games are for xbox 360. I manage to resell this 2 items in ebay for S$30 and S$30.50. Currently, trying to resell one of the extra xbox game (that i already have) for S$20. Practically, my remaining games are FREE!! ^^.
Next thing I did, i went to ebay US and bought 2 xbox games (new) which cost me S$19 each including shipping !!!. Just got my package today. The same games are retailing at S$39.90 each in Singapore. However, the games i received are in NTSC-US which i just realised that my xbox might not be able to play. There are 3 region setting for Xbox :-(. Anyway, the moral of the story is, you can actually buy items from ebay international (US, UK, Aust etc) and resell in Singapore and make a profit out of it.
Visit my ebay at http://myworld.ebay.com.sg/fruits75/
The next time will discuss further on doing business in eBay !!!
Did some trading and even got some free games from ebay (indirectly). I bought a bundle of 9 xbox games from a very nice lady for S$98 dollars. Turn out that 2 of the games are for xbox 360. I manage to resell this 2 items in ebay for S$30 and S$30.50. Currently, trying to resell one of the extra xbox game (that i already have) for S$20. Practically, my remaining games are FREE!! ^^.
Next thing I did, i went to ebay US and bought 2 xbox games (new) which cost me S$19 each including shipping !!!. Just got my package today. The same games are retailing at S$39.90 each in Singapore. However, the games i received are in NTSC-US which i just realised that my xbox might not be able to play. There are 3 region setting for Xbox :-(. Anyway, the moral of the story is, you can actually buy items from ebay international (US, UK, Aust etc) and resell in Singapore and make a profit out of it.
Visit my ebay at http://myworld.ebay.com.sg/fruits75/
The next time will discuss further on doing business in eBay !!!
Saturday, June 2, 2007
Tax Exemption Scheme for New Startup Companies
For any of a company's first 3 consecutive Years of Assessment ("YA"), a portion of its normal chargeable income (excluding Singapore franked dividends) will be exempt from tax. This is provided all qualify conditions are met.
YA (2005 to 2007) - Exempt Income: First S$100,000 @ 100% (i.e. First 100k of net profit is exempted !!!)
YA(2008 onwards) - Exempt Income: First S$100,000 @ 100% & Next S$200,000 @ 50% (i.e. First 100k of net profit is exempted PLUS the next 200k of net profit is taxed at 50% of corporate income tax of 18%)
To qualify for the tax exemption for a particular YA, a company must:
(a) be incorporated in Singapore (other than a company limited by guarantee);
(b) be a tax resident of Singapore for that YA;
(c) not have more than 20 shareholders throughout the basis period relating to that YA; and
(d) have shareholders who are individuals throughout the basis period relating to that YA.
YA (2005 to 2007) - Exempt Income: First S$100,000 @ 100% (i.e. First 100k of net profit is exempted !!!)
YA(2008 onwards) - Exempt Income: First S$100,000 @ 100% & Next S$200,000 @ 50% (i.e. First 100k of net profit is exempted PLUS the next 200k of net profit is taxed at 50% of corporate income tax of 18%)
To qualify for the tax exemption for a particular YA, a company must:
(a) be incorporated in Singapore (other than a company limited by guarantee);
(b) be a tax resident of Singapore for that YA;
(c) not have more than 20 shareholders throughout the basis period relating to that YA; and
(d) have shareholders who are individuals throughout the basis period relating to that YA.
Type of Companies in Singapore
There are different types of companies that you can setup in Singapore. The 2 main types are Sole-Proprietor/Partnership (know as Business) and Private Limited (know as Limited Company)
As business, all your personal assets are at risk in the event of a failure. Unlike business, limited company is a legally separate entity in its own right. The directors and shareholders have limited liability. As long as the business is operated legally and within the terms of the Companies Act, their personal assets are not in risk in the event of a winding up or receivership if all shares have been issued and paid up.
As business, all your personal assets are at risk in the event of a failure. Unlike business, limited company is a legally separate entity in its own right. The directors and shareholders have limited liability. As long as the business is operated legally and within the terms of the Companies Act, their personal assets are not in risk in the event of a winding up or receivership if all shares have been issued and paid up.
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