GST Consideration

  • Normal rules apply – if MCST foresees its taxable supplies approaching and exceeding $1m, then it must register for GST. Taxable supplies include Management Fund.
  • Sinking Fund and other levies. (Levies and SF are deemed to be taxable supplies “in the course or furtherance of business”) i.e. expenditure made for enjoyment later
    • i.e. if Management Fund and Sinking Fund and levy contribution > $1m, then it must register for GST
    • MCST can also register on a voluntary basis BUT must remain registered for a minimum of 2 years. For compulsory registration, MCST can de-register anytime after registering

GST registration form can be download from the www.iras.gov.sg