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Where would CPF money go if it is nominated to a bankrupt? When Madam Lim Lye Kiang sought to claim the $102,000 from CPF which her late sister had left her, she would never have expected that the CPF Board transferred the money to the OA (Official Assignee) to...

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Why you should not buy IPOs As Sheng Siong is launching its IPO next month, I expected a few calls as whenever an IPO is launching. And if you are my client, you know my answer. I decide to write this article so everybody can benefit...

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Questions to ask your Financial Adviser Every Sunday morning when I flip open the newspapers, I always see articles or advertisements regarding "Financial Advisers". Nowadays, just like the once prestigious word "Banker", which is misused in...

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Revision to Nomination of Insurance Nominees Regulation With the onset of the Mental Capacity Act ("MCA") coming into effect on 1st March 2010, the Insurance (Nomination of Beneficiaries) Regulations 2009 ("the Regulations") will be amended to effect 2 changes: The...

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The ABCs of the Financial Advisers Act The title, Financial Adviser, is always mis-used in the industry and misunderstood by the consumers. On 10 October 2002, the Financial Advisers Act came into effect and all financial institutions are...

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Foreign Domestic Worker Levy (Maid Levy)

Category : Personal General Insurance, Tax

A Foreign Domestic Worker (FDW) levy of $265 (normal) or $170 (concession) is payable every month. Levy charges begin one day after the FDW arrives in Singapore. For first-time FDWs, the levy will begin on the fourth day of the worker’s arrival (excluding the day of arrival).

Payment should be paid via GIRO. The FDW’s Work Permit (WP) will be cancelled if you fail to maintain a valid GIRO account. Levy is payable by employers at the end of each month. However employers are given up to 14 days to make payment, i.e. by the 14th of the following month. The levy payment is deducted via GIRO 3 days later, i.e. on the 17th of the following month. If 17th is a non-working day, the deduction will be made on the next working day.

You can apply for a levy concession for up to two FDWs if you satisfy the conditions A, B, C or D.