No GST for Precious Metals

On February 17th, the Singapore Government has announced its intention to make Singapore a precious metals trading hub and will remove the 7% GST (goods and services taxes) on physical precious metals. Singapore does not charge capital gains tax so in essence physical precious metals in Singapore are completely tax free.

This GST exemption is scheduled to go into effect on 1 October 2012 and full implementation details of the law will be made known on 1 September. The law is not final until then, however the current definition of investment grade precious metals, as obtained from IRAS website, states that:
Investment-grade gold (in the form of a bar, ingot, coin or wafer) must be in purity of 99.5% and above, with the following characteristics that differentiates it from gold in other forms such as jewellery:

(i) Capable of being traded on the international bullion market;
(ii) Bears a mark/ characteristic accepted as guaranteeing its quality; and
(iii) Trade at a price based on the spot price of the metal it contains.

Investment-grade silver and platinum must be in purity of 99.9% and above and 99% and above respectively, with the same characteristics as investment-grade gold.

Original Source

Rental prices down 20% in Singapore

Feb 21, 2012 - PropertyGuru.com.sg

Singapore has been ranked as the ninth most expensive city to rent in a new report – but evidence from recent weeks suggest rental prices may have already dropped by 20 percent since the start of the year.

One agent told PropertyGuru she had just signed a deal to let a property that was previously priced at S$24,000 per month for just S$19,000 per month. The landlord had previously rejected a S$22,000 offer just a matter of weeks ago.

These examples are not unique – and calls to other agents who specialise in rentals indicate that prices have plunged in the opening weeks of the year. Many are reporting a lack of tenants – especially foreigners – and a certain degree of panic from landlords who are sitting on expensive properties with no prospect of an immediate income.

To continue reading, click PropertyGuru.com.sg

The Insider Secrets to Selling on eBay

"Discover the Exact Step-by-Step Program
You Can Use To Start And Grow
Your Own Profitable Internet Business...

... You Don't Need Business Experience,
Products To Sell, Or Even A Website!"

Product Review:

"The Insider Secrets to Selling on eBay"

By The Internet Marketing Center

If you'd like to start a business on the Internet, and potentially earn $10,000+ each MONTH -- even BEFORE you have a website -- you'll want to read this article very carefully...
I recently read the newly revised and updated version of IMC's "The Insider Secrets To Selling On eBay," and I've got to tell you, it's a must-have for ANYONE wanting to start earning money online!
It doesn't matter if you have NO business experience, NO money to invest, and NO products to sell...
... IMC's team of eBay PowerSellers will show you the EXACT steps you need to follow to start a SERIOUS eBay business.
IMC's experts have spend YEARS researching, developing, testing, and perfecting these strategies (which less than 5% of eBay PowerSellers know about), and thousands of people with no special skills or talents have used them to earn incomes of $2,500... $5,000... $10,000 and MORE each month.
In "Insider Secrets to Selling on eBay," you'll discover:

• How to identify the hottest markets on eBay and guarantee auction success!
  
  
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And because the entire program is delivered online, they constantly update it, whenever there are new test results or techniques to report (or eBay makes a change to its rules).
It's the only eBay "how to" program that NEVER goes out of date!
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As far as I'm concerned, "Insider Secrets to Selling on eBay" is a perfect 10, and I recommend you take a look at it right away.
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Sameness kills your business

The number one reason why most businesses get killed by the
competition and fail is because of 'sameness.'  The tuition centre that the new entrepreneur starts is just like hundreds of other tuition centres. The electronics store that the
new entrepreneur opens is just like all the others in the
neighbourhood. The hairdressing salon that the new entrepreneur
opens is just like any other. And so on...
When your business is no different from anybody else's (the only
thing different being the name of your company), then you will find
that your chances of success is just like everybody else...very low!
Remember that only 10% of businesses succeed and 90% fail. So, if
you do business the same as everybody else, you can bet that you
are going to be among the 90% that will fold up.

Wherever I conduct my entrepreneurship workshops, people tell me
the same thing. Competition is tough, very tough. They tell me that
business used to be good, but when all the competition came in,
prices fell and profits disappeared.

So they ask me what kind of business they can get into which has
less competition and more opportunities? This is a story I hear all
too often. My reply to them is that every industry is competitive if you do
business like everybody else. However, if you do your business in a
totally different way, you will find that you will have NO DIRECT
COMPETITION.

If your busines cannot run without you ...

The reason why most entrepreneurs fail is because they build a business that depends solely on their presence and unique skills set. They are the primary producer of the goods or services. They are the one attending to the customer, making the sale, cutting the hair, doing the accounts, cooking the food etc...

They are the business and the business is them. These entrepreneurs are, in real terms, self-employed individuals and not the owners of a business that works. The business needs them to be physically there in order to function. If they aren't there, they lose the sale, the goods cannot be made, the service cannot be performed and the customers will not come.

So what's the problem with this?

The problem is that if your business only works when you are there, then you have sacrificed the most important reason for being an entrepreneur...FREEDOM. You can never take a holiday. If you were to ever take leave for a month, your business may no longer be there. In this scenario (which is all to common for most entrepreneurs), you will be trapped in your self-created 'cage' until the day you die. You will never be able to sell your company or let someone else run it for you while you retire. You will end up spending seven days a week, working 13-hour days or more, and working to the very end.

Not a rosy picture, is it?  I'll share with you how you can escape this trap and work ON your business and not IN your business. To continue reading ...