New Normal in 2021
- FIRST Assurance PAF
- Jan 3, 2021
- 1 min read
As the world continues to be impacted by the Covid-19 pandemic, working from home is no
longer reserved solely for freelancers—it is the new normal to many big MNCs, such as
Google and Facebook and also self-employed entrepreneurs.
In Singapore, such work-from-home arrangements were mandated for most workers - except those in the essential services - when a circuit breaker was imposed from April to June. Though restrictions on returning to the office have been gradually eased since then, many firms and government agencies have continued to adopt flexible work arrangements.
In view of these, HDB issued guideline for the Home Office Scheme, of which the home owners, tenants or occupants of private residential properties can set up small-scale offices in their homes, as long as they satisfy the prevailing HO guidelines and performance criteria, and ensure that the use does not cause amenity problems to the neighbours. Please refer to the link for more details.
Furthermore, IRAS also issued various tax guidance in relation to the income tax treatment of COVID-19 related for businesses and individuals. Such as tax residence status of a company and permanent establishment and clarification on working from home expenses for indivudal.
Even as vaccines are rolled out in 2021, we have to embrace the New Normal, stay cautious and be vigilant, as the virus is able to produce significant mutations, and further mutations could change the course of the outbreak.
Lastly, we would like to wish you a Healthy and Happy New Year 2021!
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