Lowyat.NET: Latest topics by georgeloke

Renting to my own company

Thu, 01 Jan 1970 07:30:00 +0800

Renting to my own company

georgeloke — Sat, 26 Nov 2022 22:38:56 +0800

So I bought an office unit, and am planning to rent it back to the company I own (I am the sole director). Spoke to my accountant and she said as long as the rental is market rate then everything’s good. Got the tenancy agreement done and stamped… kinda weird though because both signatories were mine.

My question is–I am planning to renovate the place, and so the cost will be company expenses, right? Are there any guidelines about this, i.e. how much is deemed excessive, etc? Any other watchouts to look out for? I understand that these kind of self-dealing arrangements can get extra attention from LHDN, and I want to do everything by the book.

Thank you!

Vintage Writing Desk... recommendations?

georgeloke — Mon, 31 Oct 2022 11:31:32 +0800

I'm looking to buy a vintage writing desk and managed to find this at Ashley -

store.ashleyfurniture dotcom dotmy/collections/home-office/products/hamlyn-60-home-office-desk

(I'm under probation, and so I can't link)

$4,199, and it's probably not even solid wood.

Any alternatives?

Also, is Ashley Furniture any good?

Final Payment To ID

georgeloke — Thu, 20 Oct 2022 11:22:50 +0800

I am planning to engage an ID who is going to manage everything (i.e. an all-in package). Is it common practice to withhold, say, 5% of the total payment until after the warranty period?

If the warranty is for 12 months, I’ll release the final 5% on month 13. Is this done at all?

Thanks all!

George Loke