Saturday, May 25, 2013

Be an affiliate of TKL Cloud

Have you made your PIC claim?

I recently realized that I spent about $8,000 in legal fees (register a patent), and in data center and cloud computing that is eligible to claim under the Productivity and Innovation Credit (PIC) under IRAS.  I will be submitting a claim for 60%, or nearly $5,000!

Purchase of computers, printers, copies and other automation equipment also qualify for PIC.

If you want to learn how to make this claim, attend my FREE 1 hour talk. 

Tommy Wong book promotion (final week)

Dr. Tommy Wong, author of the book series 'Wisdom on How to Live Life', is offering a promotion on all his books during the month of May 2013.
Further information on his books can be found on the following websites:

Wisdom on How to Live Life
Wisdom on How to Live Life (Book 2)
Wisdom on How to Live Life (Book 3)
Wisdom on How to Live Life (Book 4)
Wisdom on How to Live Life (Book 5)
Wisdom for Spiritual Living
Minimum Wage for Low Wage Workers

Order here:

Use TKL Cloud to run your business more efficiently

Attend this FREE 1 hour talk and learn how you can run your business more efficiently using the web applications on TKL Cloud.
It also covers how you can claim the Productivity and Innovation credit from IRAS for your eligible expenses.

If you are interested to be an Affiliate to market the service, you can earn $900 for each sale. You can also register for this session. It is a good way to earn a regular income and build up your business.

Friday, May 24, 2013

Who is guarding the guards?

Hi TakKL,

You may be interest to read this article on guard…. J

The focus on security is ridiculous, in Singapore as well.
Mindless people applying mindless instructions.

Productivity and Innovation Credit

Many small businesses are not taking advantage of the Productivity and Improvement Credit scheme to use computer software and to buy computer, IT and innovation equipment and for staff training. They can claim 60% cash from the Government or 400% tax credit.

Details here

Thursday, May 23, 2013

Expensive place to retire

Hi Mr.Tan,
I found this article interesting and shocking.
"According to the study, the annual household income required to lead a "comfortable" retired life in Singapore is the third highest among Asia's major economies, behind Australia and Hong Kong, at $48,773. This figure is 68% higher than what was needed in 2011, the survey, which has been running for eight years, found."

Run your business more efficiently

If you run a small business and wants to find an easy way to manage it more efficiently, read this


Payroll and leave

Activity booking

These web applications are designed to be very useful to use, so only the basic functions are kept here. No frills. Lower training cost. My affiliates can provide the training and implementation.

The applications are free for three months trial.

Wednesday, May 22, 2013

TKL Websites

Buy my book

Use my consulting service

Attend FISCA talks

Run your business efficiently

Am I good to go yet?

Am I good to go yet? Besides writing a will, an elderly person should also make other preparation, to relieve stress for the family.
You can register for this free talk.

Tuesday, May 21, 2013

Monday, May 20, 2013

Too lazy to find out for themselves

Hi, Mr. Tan

I was reading your article on the distribution cost of insurance and the reactions most honest and hardworking Sporeans gave you when you shared with them the actual amount of money some policies are taking away from them as distribution costs.
It seems to me that Sporeans are too tired or too lazy to find things out for themselves. They prefer to have things done for them. This may explain why they are easy target for scams and are taken for a ride easily. Sometimes I feel that even the government is trying to take Sporeans for a ride.
This may be one reason why Spore as you put it aptly "stinks" nowadays. People are finding it hard to eke out a living. As such most of them are too tired to think about the bigger scheme of things after a long and hard day's work. They know they need insurance but they are unable or unwilling to spend time to source for a good insurance policy. This is why investment linked policy are a favourite (since they can have cash back ie savings, get coverage etc etc) kill many birds with a stone, not knowing that the one who get killed is most probably themselves if they end up getting a raw deal.
Same thing when it comes to many things our government is doing or managed to get away with doing. People are just too tired to do anything about it as they can barely make a decent living. Perhaps if they cannot keep their stomach filled up and their bodies warm, they will not be bothered about those higher needs in Maslow's hierarchy of needs. And therefore controlling them and manipulating them will be that much easier.
I really hope Sporeans who have benefitted previously and are in a position to do make things better will really rise to the occasion and make a stand. Do whatever they can to educate Sporeans and not let the stink continues in Spore.
Mr. Foo

Sunday, May 19, 2013

Alnernative systems to set the benchmark

In the early eighties, the Government was debating on whether to build the MRT station. The Minister for Communications, Mr. Ong Teng Cheong, was in favor of MRT. Dr. Goh Keng Swee,  Deputy Prime Minister, was in favor an all-bus alternative. The Government commissioned a team of transport experts from America who advised that an all-bus system was feasible. The Cabinet finally decided in favor of the MRT system.

Most Singaporeans would agree that the MRT system was a better approach, as it was able to carry large number of people quickly, and was not affected by road congestion. Our MRT system was considered to be a "world class transport system" for several years.

Many people did not realize the valuable contribution of Dr. Goh in this debate. By arguing in favor of the all-bus system, he presented an alternative proposal, which was more economical and quicker to implement. This alternative presented a benchmark to compare the cost of the MRT system .

For example, if the all-bus alternative was, say $1.5 billion, the MRT system can be more expensive, but cannot be "too far off". This allowed the cost of the MRT system to be kept under proper financial control. I suspect that this was the key reason who the initial system was kept at a modest cost of $2 billion dollars for the North South and the East West lines. (Note: I am recalling some of these figures from memory, and may not be accurate).

By contrast, the Thomson MRT line was estimated to be $18 billion, and the Marina Costal Highway was $4.3 billion. These sums are staggering.

We now know that people like Dr. Goh Keng Swee played an important role to ensure that the government spending was "value for money". We dearly missed people like him; people who are visionary and courageous, and are willing to argue for alternatives!

Dr. Goh left the cabinet in 1985. Since then, we have seen a gradual deterioration in the quality of leadership in our government and civil service.

Advice on Education Policy

Roger Seow asked:
What will be a better way to save for children's education: Endowment or Education? I notice many parents tend to buy Education policy because it is named for education.

be careful about the education policy. Some are all right, but some are horrible.
Here is an article of a bad policy that a customer had bought and decided to stop at a loss of $20,000.

To learn about a better way to invest for your children's education, attend the FISCA talk on financial planning,

Why don't you tell me earlier!

I gave a talk on financial planning to employees in a large company. Most of them had served for 10 years.

I told them that the life insurance policy that they had bought is likely to show a distribution cost of $5,000 to $10,000. I explained that it is the money that is taken away from their savings, and is usually two years of their hard earned savings.

THEY WERE SHOCKED. You can see the expression on their faces!

One of them asked, almost crying .... "Why didn't the company arrange this talk earlier, when they start work. It is now too late."

I replied .... "yes, it is too late for you. But can  you tell your younger brothers and sisters to attend my talk now, so that they do not make the same mistake."

I have been actively promoting the talks held by FISCA but too many young people were too busy with their study and work. They do not want to spend the time, or to spend $30. If they make this effort, they can save $5,000 to $10,000 in "distribution cost" and $200,000 over 30 years, i.e the "effect of deduction".

There is a talk on Saturday 25 May 2 to 4 pm held as SMU. This is your chance, not to be missed. The next talk will be held a few months later. (Register at".

This is also for parents to tell their children, who are teenagers. Act now, and have a proper financial planning for life.

Blog Archive