Succession Planning: Governance Is What Makes It Stick – Governance and Controls as the Operating System of Continuity
By the time families reach the final stage of succession planning, the conversation often sounds reassuring: “We’ve identified the next leader.” “We’ve outlined the ownership transition.” “We broadly agree on the future direction.” And yet, this is precisely the point at which many succession plans quietly begin to fail Not because the plan was poorly […]
Change of Tax Reference Numbers for Estates, Trusts and Unit Trusts
Preparing for the Transition to ASGD ID from July 2026 The Inland Revenue Authority of Singapore (“IRAS”) has announced a change to the tax reference numbers used by Estates, Trusts and Unit Trusts. Effective from July 2026, the current 10-character Income Tax Reference (“ITR ID”) will be replaced with a new 9-character tax reference number […]
CLA Global TS Earns Finalist Recognition at the STEP Private Client Awards 2026
Singapore, 3 July 2026 – CLA Global TS is excited to be named a Finalist in the Accountancy Team of the Year (Midsize Firm) category at the STEP Private Client Awards 2026, marking the firm’s third consecutive year of recognition as a finalist. Now in its 21st year, the STEP Private Client Awards celebrate excellence […]
Singapore Transfer Pricing Update: Aligning the 9th Edition TPG with Share-Based Compensation Tax Reforms
The Inland Revenue Authority of Singapore (IRAS) released the 9th Edition of its Transfer Pricing Guidelines (TPG) on 4 June 2026, introducing targeted guidance on the treatment of share-based compensation (SBC). This development follows closely on the heels of the Budget 2025 corporate tax changes (effective from YA 2026), which expanded the tax deductibility of […]
Singapore’s New Harmonised Single Family Office Framework: Key Requirements, Clarifications, and Transition Priorities
Effective 15 June 2026, the Monetary Authority of Singapore (“MAS”) has officially implemented its long-awaited revamped licensing exemption framework for Single Family Offices (“SFOs”). This new framework introduces a single, harmonised, and structure-agnostic class exemption, completely replacing the legacy “related corporations” exemption and previous case-by-case application pathways. Core Qualifying Criteria To rely on the […]
Succession Planning: Ownership-Focused Continuity and Legacy Preservation
In the second instalment of the CLA Global TS Private Wealth Series, we explored the nature of leadership transition, how to execute it successfully with the right intentions, and the key factors that underpin effective leadership. In this latest article, we turn our focus to legacy planning from a business owner’s perspective. As part of legacy planning, business […]
CLA Global TS Creates Opportunities for Businesses and Sporting Talent at The Straits Times and The Business Times Corporate Golf League 2026
From left: Chen Hui Fen, Editor, The Business Times; Team CLA Global TS players comprising Ng Wei Jun (SGA Development Squad), Grace Xie, China Advisor at CLA Global TS, Gary Su and Samuel Chia; Jamie Ho, Editor, The Straits Times at the Corporate Golf League Finals Awards Dinner. Singapore, 12 May 2026 – CLA […]
Succession Planning: Leadership Transition – The Hardest Conversation Business Owners Keep Postponing
In our first part of our private wealth series focusing on succession planning, we highlighted three interdependent elements which determine whether transitions succeed or fail and they are 1. Leadership, 2. Ownership, and 3. Governance. Each pillar matters. None works in isolation. This article focuses deliberately on Leadership not because it is more important than […]
CLA Global TS Supports Community Giving Through Football With A Heart 2026
Singapore, 28 April 2026 – Over the weekend, CLA Global TS took part in Football With A Heart 2026 (FWAH 2026), marking its fourth consecutive year of participation in the annual executive football charity fundraiser, as part of the firm’s continued commitment to giving back to the community through sport. Football With A Heart, held […]
Annual Tax Circular 2026
1. Estimated Chargeable Income (“ECI”) According to Section 63(1) of the Singapore Income Tax Act (“SITA”), every person (including a company) not being an individual or a Hindu joint family who has not filed a tax return for any year of assessment (“YA”), is required to furnish an estimate of his chargeable income and revenue […]