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Originally posted by kapitan
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Didn't realise the association gets a cut... But then again 600K is still pretty good...God must have been a ship owner, he placed the raw materials far from where they are needed and covered two-thirds of the earth with water... -
I don't believe there would be tax liability on this award. This is considered capital in nature. There is no Capital Gains Tax in Singapore.Originally posted by kapitan View PostComment
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Capital Gain on what? It's a one-off income payment/award that he'll need to declare. I think it'll be the same as winning the lottery.Originally posted by kevin-sg View Post
I'm only disappointed the way SQ have handled all this, putting him at the back of their lines in all their pictures at the airport etc. without his mother as well, and a meagre million miles that, as Kapitan said, he'll need to pay charges on during redemptions.Comment
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Ohh... I am refering to the $1 mil cash award from the govt for the Gold. Yes, same as winning the lottery in Singapore, no tax. If in the US, it would be tax on everything including lottery and prizes.Originally posted by scooby5 View PostComment
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The $1M cash is NOT from the government, its from Tote Board / Singapore Pools. Its also taxable, please kindly read the link from PinkFloydOriginally posted by kevin-sg View PostComment
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I wouldn't say it's not really from government, because Tote Board is a government statutory board. Singapore Pools, though it is private, is a wholly owned subsidiary of Tote Board.Originally posted by 9V-JKL View Post
Anyway, in Singapore:
- Awards (such as the one Joseph Schooling will be getting) are generally taxable (unless it is <$200)
- Winnings (the one you win from lottery such as Toto) are not taxable.Last edited by orionmiz; 16 August 2016, 05:36 PM.Comment
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Originally posted by Pinkfloyd View PostIt's stated in the linkThere are ceilings on the awards. Athletes will be entitled to awards up to a maximum of three individual gold medals won at the SEA Games, up to two individual gold medals won at the Commonwealth Games and the Asian Games, and the first individual gold medal won at the Olympic Games. All awards are presented to the winning athlete, not the National Sports Association but it is mandatory for all athletes to plough back a certain percentage of the MAP awards to their National Sports Association for future training and development. All awards are taxable.Comment
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Originally posted by kapitan View Post
"AirAsia Bhd will provide free flights for life to all Asean athletes who won gold medals at the 2016 Summer Olympics in Rio de Janeiro, Brazil.
In a statement today, the low-cost airline said those Asean athletes who won silver and bronze medals in their events, would also be given free flights for five and two years respectively."
Tony did what SQ should have done
and now Schooling gets free flights for life.
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But free flights means still need to pay taxes and misc fees (e.g. meals, luggage, etc)?Originally posted by scooby5 View Post"AirAsia Bhd will provide free flights for life to all Asean athletes who won gold medals at the 2016 Summer Olympics in Rio de Janeiro, Brazil.
In a statement today, the low-cost airline said those Asean athletes who won silver and bronze medals in their events, would also be given free flights for five and two years respectively."
Tony did what SQ should have done and now Schooling gets free flights for life.Comment
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Yes, but after 1 million miles redemption, you pay FULL FARE + tax ......Originally posted by orionmiz View Post
On Air Asia, you continue fly anywhere on Air Asia network, pay tax + misc.....until you die.....
which is a better deal?
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I was taught as a child not to look the gift horse in the mouth, so I would not compare and simply be grateful.Originally posted by Audio View PostComment
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Our Paralympians from Team Singapore are on SQ67 (9V-SWF) back home currently.
STA: 0535
Belt: 42
Hope they get a water-cannon salute.
Singapore Airlines - A great way to fly...Comment
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Joseph Schooling flew MAN-IAH on Saturdays SQ52 as I was flying SQ51 the opposite way to Changi at the same time, well similar as we were late leaving.
I would like to claim that I saw him myself but I was unaware he was on the flight (he was doing SIN-MAN-IAH straight through) until one of the crew on SQ52, who a few of us on here know well, sent me pictures of them having selfies with him in the galley. And even then I initially asked who he was...
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