What about the pay of this type of people akin to CEOs??

Remuneration of people in banks and insurance companies had been scrutinised recently. What about this for a pay for a pastor..


Singapore church pays princely sum to leader: report

A Singapore-based church paid one of its leaders more than 500,000 dollars (329,000 US) in its last financial year, a report said Monday.

The New Creation Church, which raised 19 million Singapore dollars in just one day in February for the construction of its new premises, paid one employee between 500,001 and 550,000 dollars in the financial year ended March 31, 2008, the Straits Times said.

It said the church did not confirm if the money was paid to its leader, Senior Pastor Joseph Prince.

But New Creation's honorary secretary, Deacon Matthew Kang, was quoted by the newspaper as saying it was the church's policy to "recognise and reward key contributors... and Senior Pastor Prince is the main pillar of our church's growth and revenue."

Kang also described Prince as "the key man responsible for bringing in about 95 percent of our church's income," and added "he has enriched the church and not the other way around."

Two other employees of the church were paid between 150,001 and 200,000 dollars, but no names were given, the report said.

One of Singapore's fastest growing churches, New Creation had an income of 55.4 million dollars and net assets of 143.36 million dollars in its last financial year, according to its website.

Singapore is a predominantly ethnic Chinese society with deep Buddhist and Taoist traditions, but Christians here are known as a devout, close-knit and relatively affluent community.

KTV

Went kbox..wow they have a lot of English songs!! Original mtv as well, including these





And my all time favourite..

Recession??

Recent happenings:

- New Creation Church raises $19m in 24 hours. Recession..what recession?
- 2 deaths in NTU in quick succession.
- Retrenchments...retrenchments...and more retrenchments.
- Worsening economic forecasts. How will people have confidence when such news keep appearing??

Anyway, I am slightly disturbed by the 1st one. That's like about $220 every second. Not like the place is open 24 hours. It was raised in 4 sessions only. Woo...charities can't even raise that amount. Furthermore, it was raised for its new premises, not for charity.

Well, if only everybody is so generous and willing to spend/donate, I don't think we will be in a recession.

What you need to know for taxes $$$

So I am filing taxes for the first time..
Logged in and realised some things:-

1. They are taxing my ippt and marksmen award. Piangz..even though they give me nsmen relief doesn't mean they have to do that. Niao..

2. I cannot claim parent relief ($5k) if my dad claims wife relief ($2k). FYI, my mum doesn't work and is >55 yrs old. For those who are not too mathematically inclined, it means my dad's tax rate has to be 2.5 times more than mine if he should claim his and not mine. For those who still don't understand...

2000a = 5000b
=> a/b = 5000/2000 = 5/2 = 2.5

where a is my dad's tax rate, and b is mine.

Please note that personal income tax rates are stepped, i.e. income is taxed at different rates at different levels

On a side note, I wonder how does the IRAS choose if both my dad and I claim.

3. You can apply for GIRO instalment plan online if you have DBS internet banking. Yay..less hassle.

4. I was employed by 2 employers last year although I did not change jobs. Ernst & Young and Ernst & Young Solutions (ok not very relevant)

5. Even my $25 donation to NTU (double deduction at $50) is recorded. No need to give receipt. The IRAS really has all the info.

Anyway, I work in Corporate Tax. So Personal Tax is not my expertise. However, if you insist in asking me for help, charges apply! haha