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Should I pay off my Australia property loan given the high interest environment?

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Each time you receive a letter or notification from the bank informing you on a revised interest rate, you start to question whether you should reduce your loan amount or pay it off completely. After all, many like to retire and live on rental income from properties.

Tax deductible debt

When you take a loan to finance the purchase of a rental property, the interest on the loan is tax deductible. Once you pay off the loan, any future loan taken will only be tax deductible if it was used for a taxable asset. When you are a non-resident for tax purposes, you are only taxed on taxable Australian property.

Actual cost of interest charge

As a non-resident for tax purposes, you are not entitled to any tax-free threshold and taxed at progressive rates from 30% to 45% (from 1st July 2024).

Therefore, any tax-deductible interest cost will offset a starting tax rate of 30%.

For example, if your net rental is $30,000 and your interest cost is $30,000, you will not incur any tax payable. Should you pay off the loan, you will not have any interest and your taxable income is $30,000. At 30% tax rate, you have an income tax payable of $9,000.

Thus paying $30,000 of interest effectively saves you $9,000 of income tax payable. This means your actual cost of interest is $21,000.

At the time of this article (July 2024) the variable interest on loan 6.34%. With a $30,000 interest rate and at the above rate, your outstanding loan balance will be $473,186. Therefore, your effective interest rate taking into account the tax deductibility of interest is $21,000/$473,186 = 4.438%

Is the property you pay off your future family home?

If it isn’t, this means you have less for your future family home. The last thing you want is to have a debt free investment property and a loan on your main residence.

Getting that dream home : Set up an offset account

Always take a loan on your dream home first instead of paying cash. Set up an offset account which is linked to your loan. Should you change your mind and decide to rent out the property and live somewhere else, you can always withdraw from your offset savings account and utilized the cash. The benefit of that is the loan remains tax deductible as there is no change.

For example, if you have a home loan of $800,000 and $700,000 in your offset account, you will only be charged interest on $100,000. If you have $800,000 in your offset account, there will be no interest payable.

Conclusion

Interest rates fluctuate. Once you pay off a debt on an investment property, the interest will not be tax deductible if you used it for personal or private purposes. This is also subjected to bank lending regulation and policy at that time. Having an unencumbered property does not guarantee you a bank loan as Australia looks at serviceability. Thus, many are forced to explore sale of property even though they do not require the full sale price. Should you need the funds urgently, the turnaround time from marketing a property, contract and settlement will be a minimum 1 month.

Referencing back to the example in the article, the net return you would need to beat is 4.438% per annum. As interest rate fluctuate, it effectively translates to a net return equivalent to 70% of your current loan interest rate.

Therefore if you are able to outperform this amount, it makes sense to continue your tax deductible debt and use the cash to invest in alternative assets and build a diversified portfolio.

If you would like more information or guidance on your personal situation, please contact me on [email protected] or +65 8807 2552 for complimentary initial consultation.

 

 

 

The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances. You are advised to seek independent tax advice from suitably qualified professionals before making any decision as to the tax implications of any investment.

The ‘St. James’s Place Partnership’ and the titles ‘Partner’ and ‘Partner Practice’ are marketing terms used to describe St. James’s Place representatives. Members of the St. James’s Place Partnership in Singapore represent St. James’s Place (Singapore) Private Limited, which is part of the St. James’s Place Wealth Management Group, and it is regulated by the Monetary Authority of Singapore and is a member of the Investment Management Association of Singapore and Association of Financial Advisers (Singapore). Company Registration No. 200406398R. Capital Markets Services Licence No. CMS100851. St. James’s Place Wealth Management Group Ltd Registered Office: St. James’s Place House, 1 Tetbury Road, Cirencester, Gloucestershire, GL7 1FP, United Kingdom.Registered in England Number 02627518.

Introducing ANZA Singapore’s new President: Toph Brown

Hot off the press! The ANZA community in Singapore is set to embark on a new chapter with the appointment of Christopher Brown, known as ‘Toph’, as the new President. Toph takes the reins from Megan Kinder, whose dedication and extensive history with ANZA have left an indelible mark on the community.

Megan’s involvement with ANZA began in 2003, when she first discovered the community through ANZA magazine while visiting a friend in Singapore. Impressed by the range of activities and vibrant groups (“I thought it t looked like a pretty nifty thing to be a part of!”), she joined ANZA upon moving to Singapore later that year. Megan immersed herself in ANZA Mahjong, book clubs, toddler playgroups, and walking the catwalk at ANZA’s Fashions on the Field at the ANZA Melbourne Cup before diving into ANZA Cycling in 2006.

From 2014 to 2022, Megan became our ANZA Cycling President and organised notable events like the “PM Blast” with then-Australian PM Tony Abbott. She also served as ANZA VP in 2020 and then as ANZA President from March 2022.

Christopher Brown
ANZA President Christopher Brown

Build it and they will come

Reflecting on her journey, Megan shares, “I believe the phrase, ‘Build it and they will come’ applies to absolutely every section of ANZA. It is purely due to the dedication of our members who volunteer so much time and energy across all of our activities that we have become (and will remain) that brilliant community that I first had a glimpse of back in 2003. I will miss you all but look forward to seeing you on the other side of ANZA-Land!”

Toph joined ANZA in 2006, quickly integrating into the community. By 2013, his youngest daughter joined ANZA Scouts, and he became a leader the following year. This year, Toph joined our Executive Committee as Community Services Coordinator, bringing his dynamic leadership and passion for community engagement to the forefront.

“It is an honour to take on the ANZA President role and to continue Megan’s great work,” Toph says. “Both Megan and I were deeply involved in weekly activities before becoming President. During my term, I hope to embrace the welcoming community and strengthen the connections between the individual activity and sports sub-groups.”

As Toph steps into his new role, the ANZA community warmly welcomes him and looks forward to continued growth under his leadership. While Megan’s contributions, soothing voice and incredible hair will be much missed, we’re all excited for the future with Toph at the helm, steering ANZA towards new horizons.

Hotspots: Chatterbox

We know you should never ask a lady her age, but is Chatterbox as old as Singapore herself?

Not quite. Chatterbox has been a local fave since 1971, so while it’s not celebrating its 59th birthday along with the red dot, it’s definitely got some serious culinary cred. For over fifty years, this gem has been taking classic hawker dishes and giving them a ritzy twist. History buffs will be intrigued to know that the menu was developed by German executive chef Peter Gehrmann and initially offered three local dishes, including char kway teow, laksa, and Hainanese chicken rice. By doing so, Chatterbox became one of the earliest hotel restaurants here to serve Singaporean cuisine.

Um … has the menu expanded since? 

Absolutely! Today there’s an entire lunch and dinner menu with all your Singapore favourites: Seafood Hokkien Mee, Beef Hor Fun, “Hokkien Style” Bak Kut Teh, Chendol – the lot! Chatterbox’s Mandarin Chicken Rice is legendary and considered by many to be the best on the red dot; perfectly roasted, boneless chicken paired with fragrant rice cooked in chicken fat and stock.

With such a big history, how does Chatterbox stay on trend?

Don’t think Chatterbox is stuck in the past! While it sticks to its roots with beloved local classics, it’s been elevating street food to new heights for decades and is constantly adding updated touches. Think wine pairings that complement your chicken rice, king prawns in your fried Hokkien noodles, or cute pop-ups such as pan-fried Pomfret with homemade sambal to keep diners on their toes.

What classics took your fancy?

Their signature Lobster Laksa loaded with Boston lobster, quail eggs, fish cake, thick vermicelli noodles and dried beancurd, served in a flavoursome coconut broth of spices and fresh coconut milk was our favourite (very filling) dish. The rojak came a close second with its mash-up of fruit and vegetables in a sweet prawn paste, finished with ground peanuts and deepfried cucur dang (prawn fritters).

What’s the vibe like?

Vibrant, botanical murals, a lively atmosphere, and a modern twist on classic charm. While Chatterbox has remained located in exactly the same location (inside Hilton Singapore Orchard, and The Mandarin Singapore before it), a more recent makeover has turned it into a fresh, serene and seriously good looking spot. During ANZA’s visit on a rando Wednesday lunchtime, the place with buzzing with a mix of locals and visitors.

Looking for lobster laksa? Find one of the best at Chatterbox

How does it justify its hawker food menu at restaurant prices?

Good question! Chatterbox takes those awesome hawker faves and provides them a gourmet upgrade. So while you’re still getting that comforting chicken rice and spicy chilli crab you love, you’re also enjoying high-quality ingredients and expert cooking from master chef Liew Tian Heong who has been protecting Chatterbox’s legacy for 30+ years. Oh, and the portion sizes are M-A-S-S-I-V-E.

Go on, impress us some more …

In August 2006, to commemorate its thirty-fifth anniversary, Chatterbox held a chicken rice eating competition; the winner finished his portion in one minute and eleven seconds. Note: please don’t attempt this while visiting.

Any deals for National Day?

Of course. There’s a special National Day Set Menu from now until 9 August. For just $75++, you’ll get a fabulous five-course feast: a mini-trio of Lemon Butter Prawn, Kueh Pie Tee to start, Chicken Satay, then Mini Bak Kut Teh, Chilli Crab with Mantou. The Mandarin Chicken Rice is your don’t-miss main dish followed by the Signature Coconut Ice-Cream.

And if you’re a fan of crabs, you’re in for a treat. The Chatterbox Crab Fiesta kicks off this month through to October, featuring live crabs cooked three ways for $168 per portion. Choose from the iconic Chilli Crab (August), Curry Crab (Sept), and Black Pepper Crab (October). Each portion comes with eight mini mantous, which makes it great for sharing if you’re feeling kind.

When and why should I visit?

Now is the perfect time, especially with National Day this week. It’s the ultimate spot to celebrate Singapore’s big day, offering a delicious trip through the island’s culinary heritage. Indeed, Chatterbox is not just a restaurant, it’s a piece of Singaporean history not to be missed.

333 Orchard Road, Hilton Singapore Orchard, #05-03, Singapore 238887. chatterbox.com.sg

What’s on in Singapore in August

August looks set to be a scorcher as some super-cool exhibitions and events hit Singapore’s shores and hot new tickets go on sale for the happenings in the future. From immersive family activities to international pop stars to even more ANZA offerings available to our wonderful community, your feet won’t touch the ground! Here’s what’s on in Singapore over the coming weeks.

Get to grips with bricks this August! Image: The Art of the Brick

The Art of the Brick

Know a LEGO® lover? The Art of the Brick experience arrives at Singapore’s EXPO Hall in late August. The 150 Lego sculptures are the creations of Nathan Sawaya, a former lawyer turned renowned artist, including a giant T-Rex sculpture and recreations of classical artworks rendered in LEGO® including Van Gogh’s Starry Night, Edvard Munch’s The Scream, and Gustav Klimt’s The Kiss. Tickets go on sale at 4pm on 8 August, so get ready!

Singapore Expo, Hall 8B, 1 Expo Drive, #02-01, 486150. Find out more

Singapore Grand Prix

For those who’ve been avoiding all news for the past few weeks, tickets for the Singapore Grand Prix from 20 – 22 September  are available now! This mega event takes place Alongside the excitement of very fast cars, entertainment includes Lenny Kravitz (will his leather trousers withstand Singapore’s heat?), OneRepublic, Kool & The Gang (screeeeam!), and Australia’s very own Kylie Minogue. Tickets are on sale now. Whether Kylie pops in to ANZA’s famous Ladies Night while she’s in town remains to be seen ….

Click the link for the line-up and to purchase tickets

ANZA Ladies Night August welcomes the boys – because we’re nice like that

ANZA Ladies Night – Gents Welcome!

Join us for a special ANZA Ladies night on 21 August, where the gents are also invited!
Happening from 6.30pm – 9.30pm, at Cuba Libre, Clarke Quay, you’ll find discounted drinks and snacks, and a DJ playing Latin, Top40, Reggaeton, and R&B classics. Arriving alone, with friends, or a token bloke, the ANZA team will be there to greet you on the night.

21 August. 3E River Valley Rd 01-03/04 @, Clarke Quay, The Circuit, 179024. Come join us at this link

Festive Sentosa Fair

The biannual must-do Festive Sentosa Fair is back on Saturday 31 August and looks set to be bigger and better than ever.  Expect a fabulous selection of Singapore’s best brands and vendors, and new and upcoming local brands selling their wares. Additionally, gift bags, goodies, high tea packages and even hotel perks can be won on the day itself. It’s the ideal place to start doing some Christmas shopping (yes, we have just mentioned the “C” word), and to scout out original finds for family and friends. 

W Hotel, Sentosa Cove, 21 Ocean Way, 098374. Check out their Instagram page here for more info

Go out of this world. Image: Bubble Planet

Bubble Planet: An Immersive Experience

Following its time in Milan, the USA, Brussels and London, Bubble Planet: An Immersive Experience is making its Asia-Pacific debut in Singapore from 31 August. From the same folks who brought us Van Gogh: The Immersive Experience, this surreal and colourful interactive experience invites guests to escape into a world of bubbles across 11 uniquely themed areas – think a Bubble Bath Pit, an underwater LED Room, and an ocean of living balloons at Bubble Ocean.

Singapore Expo, Hall 8B, 1 Expo Drive, #02-01, 486150. Get your tickets here 

ANZA Soccer Season 2024 – 2025

ANZA Soccer is a parent-run, parent-coached, non-profit kids’ soccer club catering to all skill levels, from beginner to competitive. Our 2024-25 season starts on 31 August and welcomes players aged 3-18 to learn new skills, have fun on the pitch, and make new friends.

Our main programme is an internal league played over approximately 30 Saturdays, in which all players participate. Players in each age group are organised into balanced-ability teams of mixed-gender, plus girls-only teams (4-10 teams per age group) who then play in the internal league and also participate in external tournaments.

ANZA Soccer also offers a competition league for competitive players. Both leagues offer mid-week skills training run by our professional coaches.

Log on here for details about ANZA’s Soccer’s new season starting 31 August

Image: @the_artfool_soul

Seeds & Flowers

Date night for August is sorted with Seeds & Flowers at Esplanade Recital Studio. This rare and captivating concert brings guitarist Andrew Lim, drummer Aaron James Lee and bassist Kenji Nakano together for this special set after playing and growing in parallel over the years. The trio create a unique musical sound stemming from their roots as jazz musicians, however their music is not reserved for jazz aficionados only; it’s ideal for anyone who appreciates quietly communicative compositions and a bit of peaceful comtemplation.

30 August, 8pm. Click the link here for tickets

ANZA Singing returns

ANZA’s Singing Group kicks off sessions again post-holidays on 12 August. This new community group sing a wide range of songs – pop, rock, musicals, folk, old favourites, classical, some karaoke. Let singer and educator Bernadette Nagy pass on her extensive knowledge and experience of singing alonsgide a few vocal and breathing exercises. As always, sessions will be at Sampan Place, starting at 10am, with coffee at 11.15am.

Sign up here for further details

Image: National Museum of Singapore

National Day Light-Up

To celebrate Singapore’s 59th birthday on 9 August,, various heritage landmarks in the Bras Basah Bugis precinct will be illuminated in the National Flag colours of red and white. Spend an evening trying to take in the Armenian Church, Central Fire Station, St Joseph’s Church and Stamford Walkway – each are landmarks that symbolise SG’s shared heritage (and they’ll also make Insta Gold!).

On until 7 September

Come ghost hunting with ANZA!

Hungry Ghost Tour with ANZA Tours

Head on a trip around town to witness the various celebrations of the Hungry Ghost Festival, taking place in Singapore from 4 August – 2 September. The Chinese believe that during the seventh month of the Chinese lunar calendar, the gates of hell are flung open, and they close 30 days later after the last ghoul is carried home. Join us to discover the myths, customs, and symbolic meanings associated with this vibrant celebration. Our tour starts with dinner in Chinatown, then we’ll travel by private coach to join the locals as they celebrate this colourful festival in the heartlands.

18 August. Sign up at the link here

Celebrating Singapore’s hawker centres

Holland Village Food Centre (NEA)

When it comes to the Lion City, some elements are inimitable: the cleanliness, the incredible MRT system, those amazing super trees, and the food – OMG, the food! It’s at the island’s iconic hawker centres that the true local flavour of Singapore is found – in every way. From chicken rice to biryani, chili crab to nasi lemak, roti prata to satay, the food is eclectic, and the hawker centres where we enjoy it are emblematic. Yet, they are more than just eating places. They are part of Singapore’s history and heritage. The rickshaw noodle seller may be gone, but the dedication and devotion to the hawker trade, and how it’s woven so deeply into local society, is as strong as ever.

No one understands this better than Professor Lily Kong, President of Singapore Management University and an expert on urban transformations and cultural change in Asia. As a little girl in the 1960s, she grew up in an HDB estate in Redhill and tagged along with her mum as she shopped at the wet market and hawker centre on weekends.

It wasn’t until Prof. Lily returned to the red dot after studying in London in her early twenties that she developed a true appreciation for hawker culture. She published her first book, Singapore Hawker Centres: People, Places, Food, in 2007 and released a second edition late last year. We sat down with Prof. Lily to find out more.

Congratulations on your second book. How do the two publications differ?
Thank you! The first publication delves into hawker culture’s significance with a focus on the beginnings and growth of hawker culture in Singapore. The second edition continues the legacy of the first edition by shedding light on how hawker culture has developed since then. It highlights the acquisition of the 2021 inscription on the UNESCO Representative List of Intangible Cultural Heritage of Humanity and further explores the importance of hawker culture as a Singaporean icon.

With 16 years in between the two books, there must have been lots of development …
When I wrote the first one in 2007, I thought I’d created the definitive book and there wouldn’t be another. At that time, the Singapore government had decided there would be no more new hawker centres because young people wanted fast food in air-conditioned spaces and it was believed that the trade was only for older generations. However, when new estates were built, young people started to ask where the hawkers were, so there was a turnaround in government policy.

“There is no understanding of Singapore without insight into hawker culture”

Street hawker stalls crowded together along Queen Street and Middle Road (SPH Media)

So the hawker trade continued to boom?
Well, Covid struck so the hawker trade started to evolve. Technology was fast changing the world, and the pandemic accelerated new ways of ordering, paying for, and enjoying food. The digital hawker came into play and really changed the face of enterprise.

Did you have to do lots of updating?
The chapter on the people behind the hawkers – those doing the cooking, the cleaners, the Hawker Association Chairperson who creates the community – had to be rewritten due to the new online food ordering platforms such as Grabfood, Food Panda, and YQueue (yqueue.co/sg) created by SMU students. We still have the traditional hawker doing things the way they did decades ago, but they now work in parallel with a whole new group of people.

Did you revisit participants from the first edition?
Amendments had to be made as, after sixteen years, some hawkers had retired or passed on. I had a favourite grandma who used to sell porridge and duck at Chinatown Point. I really wanted to update her story as in the mid 2000s, when she was in her 80s, she told me she was going to keep working as long as she could. Alas, she retired. I also had the opposite challenge with some younger people who had entered the hawker trade but only stayed for a short period.

What else had changed?
The diversity in the types of food available at Singapore’s hawkers now is huge. In 2007, some traditional foods were falling out of favour, for example, Rickshaw Noodles but they have emerged on the scene again. Then there are new types of food that were not so apparent sixteen years ago. We always had Chinese food at hawker centres such as Hokkien, Cantonese, and Teochew, as they were the three main dialect groups, but due to the migration of more mainland Chinese to Singapore we can now get Hunan, Hubei and Dongbei dishes – flavours that were not so popular in Singapore in the early migrant foods of the 1900s.

What has been lost over the years?
I say with caution that in the past there were more family hawkers where the parents worked and children helped after school and in the holidays. We see less of that today, but of course, I can understand why. When hawker parents work so hard to put their children through education, they hope for a better life for them which doesn’t involve having to sweat it out. The likelihood we have of succession within hawker families is less now, and it does give me a sense of loss.

Cheng San Market & Cooked Food Centre (NEA)

Have many hawkers disappeared?
More noticeable are the hawkers that have evolved from their original state. The market I went to in Tiong Bahru as a child consisted of sheds. It then evolved into a built structure and has now become an art deco building which reflects the design of the area. Indeed, while the architecture has changed at Tiong Bahru market, there is a husband and wife team in their 80s who have worked there since they were young. Back in the 1940s, when hawking was ‘illegal’ as there were no official licenses, he was a chicken seller and she was a vegetable seller. When the health inspector showed up, one would help the other to wrap up their wares and run away, and that’s how their romance blossomed!

What do you think makes hawker culture so intrinsic to Singapore?
It is just such a part of our daily life. When Covid struck we collectively felt it with everybody asking, “What are we going to eat now?”. As Singaporeans, hawker culture is so wrapped up in our existence and represents the multiculturalism that our city-state stands for – not just in the Chinese, Malay, and Indian food categories – in all its multiplicities. It has undoubtedly shaped our identity. There is no understanding of Singapore without insight into hawker culture.

Hawker Suren and his family in front of their Heavens hawker stall (Alecia Neo for NEA & NHB)

Any personal favourite foods?
Heavens at Ghim Moh Market (20 Ghim Moh Road, #01-26, 270020), sells fantastic Indian fare such as buttery appam, thosai and puttu mayam. Get chwee kueh (steamed rice cakes with fried preserved radish) from Tiong Bahru Market and prawn noodles from the hawker centre at Old Airport Road. Controversially, I don’t agree with some of the stalls who have Michelin stars.

What else in Singapore would you like to gain UNESCO World Heritage protection?
I would love to see Peranakan culture considered. I was involved in the process of putting up the bid for hawker culture protection, and it was chosen because we wanted something that came across in all demographics and segments of the Singapore community. Some may argue Peranakan culture does not do this, but I would say that it has a fusion of Malay-Chinese and Indian-Chinese culture and I believe that cuts across different sections of the population.

Bedok Food Centre (NEA)

How do you hope the hawker trade will develop?
I would personally like to see the introduction of more food options from different parts of the world. Some would prefer to focus on traditional dishes such as chicken rice and fried kway teow and are suspicious of new-fangled fare, but I hope it does not have to be either/or. We already have food and cooking styles from Korea, Japan, Europe, and so forth which makes our hawkers a microcosm of Singapore society. Indeed, there’s definitely scope for an Australian or New Zealand hawker stall somewhere!

DID YOU KNOW?

  • There are 119 hawker centres in SG
  • With around 700 stalls, Chinatown Complex Market is Singapore’s largest hawker centre and market today
  • Tekka Market, built in 1915, was also known as Kandang Kerbau Market. The name, Kandang Kerbau, means “buffalo enclosure” in Malay, referring to the area’s cattle trade
  • Geylang Serai Market was opened in 1964 and rebuilt in 2009. Its architecture is inspired by Malay cultural heritage
  • Tiong Bahru Market opened in 1951 as Seng Poh Road Market. It also functioned like a town centre for public meetings and political rallies

 

 

 

 


Find Singapore Hawker Centres: People, Places, Food by Professor Lily Kong at epigrambookshop.sg and amazon.com

What happened at ANZA Soccer’s Family Fun Day

The sun was shining, the cheers were loud, and the excitement was palpable as ANZA Soccer celebrated the grand finale of its 48th season on 27 April, 2024. This year’s Finals and Family Fun Day was particularly special, marking not only the end of another season but also a triumphant transition to two new locations: The Cage, Dempsey and the Canadian International School (CIS).

Despite the monumental task of moving to new grounds in January and April, the ANZA Soccer Committee pulled off an incredible day filled with double the fun. From the moment players and families arrived, the festive atmosphere was undeniable. There was popcorn, candyfloss, ice cream, and balloon sculptures, with the added joy of a photo booth at the CIS location.

With parents vs. children friendly-games for most age groups, the competitive spirit was through the roof! Parents showed their love for the sport by getting in on the action rather than just cheering from the sidelines. The kids had a blast taking on mums, dads, brothers, and sisters. While fitness usually won over wisdom, everyone brought their A-game, making for some hot competition.

The core reason parents choose ANZA is all about camaraderie and community. Players have an amazing time with their friends, and parents get involved with their kids. Plus, we’ve seen tremendous progress in our youngest age-group’s skills. Those who could barely kick a ball at the start of the season are now passing, shooting, and even staying in position (most of the time). For the older age groups, league standings and ANZA Cup competitions have been thrilling opportunities to show off their skills. Running internal leagues has been a huge selling point for ANZA Soccer, and the rapport and competition have made for some seriously nail-biting finals!

Awards ceremony

Following the last whistle, each age group gathered for their much-anticipated Awards Ceremony. Age Group Coordinators (AGCs) took the opportunity to thank everyone who made the season possible, especially the volunteer coaches, team parents, and committee members. Without their dedication and hard work, ANZA Soccer simply couldn’t exist. Coaches then handed out medals, giving each team its moment in the spotlight.

We commend all ANZA Soccer players and the adults who contribute to our programme’s strong reputation for building character as well as soccer skills in our boys and girls. The ANZA Soccer Committee deserves special recognition for their relentless efforts throughout the season. After the closure of The Cage, Turf City, ending a decade-long era for ANZA Soccer, the committee worked tirelessly to secure new grounds, ensuring the continuity and success of our beloved sports group.

We extend our heartfelt thanks to the volunteers, players, and parents for their unwavering support during this transitional period. Their commitment over the eight months of the season has been nothing short of inspiring. A special shoutout goes to our grounds staff and weekday coaching staff, led by Head Coach Yakob, who work hard to ensure everything runs smoothly at practices and on game days.

We are so proud of our players, parents, and volunteers for their continuous commitment and enthusiasm. We also extend our deepest gratitude to our sponsors, whose support makes ANZA Soccer accessible and affordable.

Here’s to another mega season starting in August! Registration for the 2024 -25 soccer season is now open, so sign up fast to reserve your player’s spot. For details, visit anza.org.sg

Registrations for the 2024/25 season are now open
Register at anza.org.sg/soccer

Maximise your time in Singapore: Invest in Australian property

  •  Sponsored Content 

Hand holding magnifying glass and looking at house model with row of coin money, house selection, real estate concept.

“We came for two years and have been here for five, ten, twelve years”

Sound familiar?

Moving to Singapore has enriching experiences living as an expat. A safe place with a melting pot of cultures, efficient ability to travel, booming economic growth and tax benefits attracting businesses that accelerate career growth, tend to make it easier to settle in for longer than originally planned.

With the years moving fast in Singapore and its tendency to be a transient place, it’s important to make every year count towards your future.

And what we mean by that is financial security, which understandably means different things to different people. Maybe it’s early retirement, family vacations, world-class education for your kids, and secure future for them.

Property as a plan

Investing in Australian property has always been a big part of financial planning for families. Balancing long-term, or dream-home, homeownership with strategic investment is key. Recent Australin Bureau of Statistics (ABS data) shows a 3.5% drop in dwellings built, continuing a housing supply shortage. While this challenges builders, it can boost property values and rental yields for investors – in other words, it’s a good time to invest.

Australia has consistent, stable property growth. With the right strategy and partners, Australian property can be a powerful tool to achieve your financial goals, making your time in Singapore count.

Wooden figure with many questions mark and copy space for doubt suspicion and doodle concept.

The Challenge: Complex & time consuming

Navigating the property market while living overseas is tricky. Securing finances as a non-resident, knowing the tax implications and understanding the ever-changing property market and its opportunities are some of the challenges investors face. There’s a lot of opinions and noise about where and what to buy and it’s difficult to know who to trust.

If you are following the Australian market, you know that property prices continue to rise, causing more uncertainty of when (and if) you should invest.

How much will banks loan non-resident/foreign investors? What areas should I be looking to buy in? How do I know it’s good value? I already have a property in Australia, should I, can I, get another one? Do we buy in our names or in a trust? Who can we trust? Where do we go?

These are just some of the questions we get asked constantly.

Streamlining the experience

Property NXT is an independent, Singapore-based team that starts the property investment journey with a people-first approach, first we Spark the Conversation to understand your needs and capabilities, then we strategically craft with you a profitable property investment plan that sets you and your family up for success.

We unlock access to our trusted partners throughout the buying journey, from securing the loan, finding the right property (whether residential or commercial) all the way through to settlement and property management.

You’re invited to grow your property portfolio!

Join us for our exclusive launch event, where you’ll hear more about why we started Property NXT, and all about Australia’s fastest growing property markets:

  • Uncover hidden gems: Gain access to off-market residential and commercial opportunities in the Sunshine Coast, Brisbane and Perth
  • Expert insights: Hear from our Australian commercial property partner, Rob Martin from MCommercial Australia, who will share his knowledge and strategies for success.
  • Network and connect: Mingle with fellow investors all based in Singapore and get insider tips for navigating the Australian property market.

Event Details

  • Thursday, 22 August 2024
  • 6pm – 8pm
  • 1880, 1 Nanson Road, Level 3
  • Register today: propertynxt.sg/launch – limited spots available

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Singapore National Day 2024: Foodie deals & fireworks

As Singapore turns into a sea of red and white flags for National Day on 9 August, behind the scenes the island’s best bars and eateries have been creating innovative menus to celebrate the red dot’s 59th birthday.

Being a foodie nation, there’s plenty on offer. Expect innovative spins on Singapore’s staples and heritage classics, and flavour-packed renditions of national favourites. Come together to dive in with friends and family and say a big Happy Birthday to Singapore – fab views and fireworks included!

El Chido & Madison’s

Hungry amigos! Get set to party at El Chido with great views and gorgeous treats! Pullman Singapore Hill Street’s two dining concepts, El Chido and Madison’s present National Day promotions at their rooftop from now until the big-bang National Day Brunch on 9 August, 12pm – 3pm. Food, fireworks, the opportunity to have a dip in the infinity pool and groove to a DJ – what’s not to like?!

El Chido, 1 Pullman Hill Street, 179949. pullmansingaporehillstreet.com

Super Loco

For a prime view of the National Day fireworks, head to Super Loco for the Viva Singapore event. Enjoy three-hours of free-flow Mexican dining, featuring frozen lime margaritas, beers, wines, spirits, and bubbly. The party kicks off at 6pm with DJ Black Tropik’s beats, followed by piñata bashing and trivia games. The menu includes smoked pork jowl tacos and pandan churros. Get in!

6pm – late. #01-04, Customs House, 70 Collyer Quay, 049323. super-loco.com

Edge

Celebrations last the while month of August at Edge with their ‘Flavours of the Lion City: A Culinary Expedition Through Singapore’. The special menu features a feast of Singaporean classics, including laksa with baby lobster, bak chor mee, peppery bak kut teh, and bite-sized kueh pie tee. The buffet, which showcases an array of live action stations highlighting Singapore’s multicultural dining scene, is available daily from 6pm – 10pm and on National Day from 12pm – 3pm.

7 Raffles Boulevard, Level 3 Pan Pacific, 039595. panpacific.com

Caffe Fernet

Caffe Fernet is serving up waterfront views, fireworks, and communal-style feasts this National Day. Unbuckle your belts for rosemary focaccia, mozzarella with melon and parma ham, beef rendang short ribs, and tiramisu brownies. Vegetarian and kids’ menus are also available. There’s also a three-hour free-flow boozy package, offering wine, beer, and cocktails – including the Singapore Sling of course.

5pm – 9pm. #01-05, Customs House, 70 Collyer Quay, 049323. cafefernet.com

Yan Cantonese Cuisine

Craving dim sum? Head to Yan. This Cantonese restaurant is offering seven new dim sum creations inspired by SG flavours from now until 31 August. Highlights include steamed sticky rice with Hainanese chicken ($8 for one), xiao long bao with minced pork in bak kut teh stock ($8 for four), pan-fried chili crab meat buns ($12 for three), and deep-fried satay chicken dumplings ($9 for three).

#05-02, National Gallery Singapore, 1 St. Andrew’s Road, 178957. yan.com.sg

CE LA VI 

High on our list of fun happenings this Singapore National Day is the Family-friendly National Day Fiesta at the SkyBar and Club Lounge, CE LA VI. In addition to the panoramic views of the city and bay, this event offers day to night foodie delights. As the sun goes down, prepare for front-row seats of incredible views of the Padang including air show performances and the don’t-miss-it fireworks display. Dig out your finest red & white colours for the fiesta and come dancefloor-ready for the resident DJs.

12pm -10pm. 1 Bayfront Avenue Marina Bay Sands, Hotel, Tower 3, 018971. celavi.com

LeVeL 33

Reserve your spot at Level33’s rooftop for a 9 August to remember. Locally-inspired dishes, house-brewed beers, and a variety of drinks will be the order of the day. Live food stations offer the likes of confit egg yolk toast with caviar, mushroom and truffle radish cake, oyster omelette chawanmushi, free-range lamb kofta satay, beer churros, and ondeh ondeh ice cream. A feast for 59 for sure!

5pm – 9pm. #33-01, Marina Bay Financial Centre Tower 1, 8 Marina Boulevard, 018981. level33.com.sg

Flutes

Spend National Day at the new snazz Flutes venue, where Singaporean influences meet contemporary European cuisine. Their menu, available now until 9 August, features standout dishes such as wagyu rendang with pumpkin and pickles, chili Fraser Isle spanner crab spaghettini topped with caviar, and Aquna Murray cod paired with sweet corn and fermented sambal butter.

#01-02, Guoco Midtown House, 120 Beach Road, 189769. flutes.com.sg

Black Tap Craft Burgers & Beers

Looking for that National Day Insta shot? Black Tap is celebrating National Day with the return of their National Day CrazyShake, available from 9 – 11 August. This decadent bandung-based shake is topped with a slice of red and white cake and a variety of Singapore-themed toppings. Their Nasi Lemak Sandwich will be available throughout August.

The Shoppes at Marina Bay Sands, 10 Bayfront Ave #01-80, Bay Level, 018972. id.marinabaysands.com

Alley on 25

Celebrate National Day weekend with brunch at Alley on 25, featuring traditional faves  August 9 – 11. Kampong chicken soup with young ginseng and wolfberries, tender beef rendang and gado gado cold plates will be available alongside old-school local Swiss rolls  in flavours like kaya, durian, and red velvet. If you’re that way inclined, go full on party with their bottomless boozy brunch package. Hic!

5 Fraser Street, Level 25, 189354. hyatt.com

KOMA

Feeling flush? Experience Japanese cuisine with a National Day twist at the stunning (and super photographable) KOMA from 6 – 27 August. Their celebration includes three Singaporean-inspired dishes, such as the wagyu satay featuring Kagoshima A4 wagyu ribeye steak, a reimagined black pepper crab made with Alaskan king crab, and for dessert, the Singapore-coloured chitose strawberry parfait. Additionally, a fancy six-course meal is available exclusively from 7 – 13 August, perfect for a night to remember

2 Bayfront Avenue, #B1-67, 018972. koma.singapore.com

Song Fa Signatures

For those looking for totally traditional and heritage fare, give this place a whirl. Homegrown restaurant Song Fa is already a foodie favourite, and the new Song Fa Signatures is all about updated Teochew dining. Delve into the Yeo family’s cherished heirloom recipes which come with contemporary twists on old classics such as their crispy kangkong with thai sweet sauce (ANZA’s Chrissy says it tastes like “Japanese tempura veg fritters”); pork stomach collage soup (“richer than their Bak Kut Teh soup”); and deep fried teochew fish fillet (“fresh and delicious with a thick chunk of meat – good for kids and the elderly”). The winning dish however, is Song Fa Signature’s modern take on Orh Nee which is done Creme Brulee style. The top half is yam paste (w/o lard) and the bottom half is custard. Less heavy and totally yum!

Paragon Shopping Centre #B1-06, 238859 paragon.com.sg @songfasignatures

Altro Zafferano

Head here from 6pm on 9 August for a four-course National Day Set Dinner featuring sophis flavours from Italy. Paired with one of the best views of SG, each dish is crafted using the freshest premium ingredients, ensuring a dining experience that is both delightful and memorable. You’ll also bag front-row views of the spectacular fireworks display from the terrace lounge, so this one’s a win-win!

10 Collyer Quay, Level 43, 049315. altrozafferano.sg

Ask the expert: What are the tax impacts when considering a move to Australia?

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You may be considering if you should continue to live in Singapore given the rising cost of living and reduced expat benefits. Especially when you have three kids going to international school, the tax advantage of being in Singapore reduces. Once you make that decision, it is all about planning your move to Australia, understanding the tax impact and your obligations.

Singapore exit tax

You are required to clear all giro tax payments and the year-to-date tax bill. Employers will withhold payment of all monies due to you, to cover this. If you have any existing share options or awards which have yet to be exercised or vested, you will be deemed to have derived gains from these at the point of tax clearance. This also applies to those with selling restrictions.

Residency and 183 days rule

The Australian Tax Office looks at when you start to reside in Australia as the date your tax residency starts, which is commonly referred to as part year resident. This is important to establish as worldwide income will be taxed from that date and your tax-free threshold will be adjusted.

Bonus related to work outside of Australia but received in Australia

If this is paid after you have become an Australian tax resident, the bonus should be reported as foreign income.

Income tax losses

You can’t control the amount of losses you wish to utilise. For example, you have income tax loss of $20,000 from the prior years. You become a tax resident in June and your total income is $8,000. You are required to utilise $8,000 of the loss even though this is within the tax-free threshold. Therefore, your carried forward income tax losses will now be $12,000.

Moving into one of your rental properties

Repairs must be made and paid for in the same financial year you last received rent. A common expense is repainting, and should the service include exterior walls you will need to get a cost break down as only the cost to repaint the interior is considered maintenance and deductible against rent.

Transferring cash from a bank account

No tax implications. When the value is more than A$10,000 you need to advise AUSTRAC.

Shares purchased whilst you were living overseas

The market value of shares on the date you become a tax resident becomes your cost base. For the discount capital gains to apply, you must hold it one year from this date.

Offshore life insurance bond

The policy year does not reset because of a change in residency. The 10-year period starts from the policy start date provided the 125% rule was not breached. Any withdrawals from the 11th year will be tax free in Australia subject to the bond being an eligible policy.

Private health insurance

To avoid paying Medicare levy surcharge (MLS), when your income for MLS purposes is above a certain threshold, you must be covered by an Australian based registered health insurer.

Given that every individual situation and circumstances differs. Please contact us to discuss your specific circumstances on [email protected] or +65 8807 2552.

The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances. You are advised to seek independent tax advice from suitably qualified professionals before making any decision as to the tax implications of any investment.

The ‘St. James’s Place Partnership’ and the titles ‘Partner’ and ‘Partner Practice’ are marketing terms used to describe St. James’s Place representatives. Members of the St. James’s Place Partnership in Singapore represent St. James’s Place (Singapore) Private Limited, which is part of the St. James’s Place Wealth Management Group, and it is regulated by the Monetary Authority of Singapore and is a member of the Investment Management Association of Singapore and Association of Financial Advisers (Singapore). Company Registration No. 200406398R. Capital Markets Services Licence No. CMS100851. St. James’s Place Wealth Management Group Ltd Registered Office: St. James’s Place House, 1 Tetbury Road, Cirencester, Gloucestershire, GL7 1FP, United Kingdom.Registered in England Number 02627518.

Best books for a summer read

There are few better places to read a good book than outdoors on holiday. Free from a multitude of daily distractions, natural light improves mood and concentration and the warmth of the sun adds to the relaxation. Indeed, the right read can offer escape and indulgence that can often be hard to find. Alongside a comfy towel, bottle of Banana Boat and an optional bevvy in hand, here’s some top tomes picked by ANZA’s own book club to accompany you on a sunbed over the coming months.

The Thursday Murder Club by Richard Osman

Genre: Crime, family life, cosy
Overview: In a peaceful retirement village, four unlikely friends meet up once a week to investigate unsolved murders. But when a brutal killing takes place on their very doorstep, The Thursday Murder Club find themselves embroiled in their first live case.
My take: Richard’s books are a nice read between the more ‘heavy’ books. I love the characters, light humour, and seriousness of getting older and living life.
Feel-good factor: When I finished this, I immediately looked for the second book in the series. It’s definitely feel-good and funny at times.
Perfect for: Those looking for a fun book and fans of murder mysteries. Note that a film is being made of the first book in the series and it has an awesome cast!
Alida Gouws

All My Mothers by Joanne Glen

Genre: Fiction
Overview: London, 1980s. Eva Martínez-Green has a privileged life but she is deeply unhappy. The only child of an emotionally absent mother and a physically absent father, Eva has grown up in a cold, unloving house. However, she’s convinced all is not as it seems. Why are there no baby pictures of her? And why do her parents avoid all questions about her early years?
My take: Set in the UK and Spain, this book has a well-developed sense of place and culture, and explores how relationships within families and between friends can constantly evolve.
Feel-good factor: It’s easy and enjoyable. I felt happy but thoughtful while reading it.
Perfect for: A relatively easy read but something enjoyable beyond formulaic.
Anon

Love Marriage by V V Ganeshanathan

Genre: Fiction, Intergenerational
Overview: The daughter of Sri Lankan immigrants who left their collapsing country and married in America, Yalini finds herself caught between the traditions of her ancestors and the lure of her own modern world. But when she is summoned to Toronto to help care for her dying uncle, she is forced to see that violence is not a relic of her Sri Lankan past, but part of her Western present.
My take: This is set in relatively current time, so I learned about Sri Lankan culture, and modern history and politics, from the perspective of this young woman and previous generations of her family.
Feel-good factor: As it’s written mainly from the perspective of a young woman today, it kept my interest even though I’m not a fan of classic historical novels.
Perfect for: Those interested in culture.
Anon

Where the River Ends by Charles Martin

Genre: Fiction
Overview: A couple embark on a wilderness canoe trip to fulfil the wife’s dying wish. It deals with themes of love, loss, and redemption.
My take: Where The River Ends is written from the perspective of the husband and explores his journey as an artist alongside his experiences with cancer, addiction, and personal growth.
Feel-good factor: This made me feel humbled. It left me feeling very lucky to have, and have had, some very close and trusted friends and family throughout my life to share the good times, and support me through the not-so-good.
Perfect for: Readers who appreciate stories about relationships. The book delves into the complex bonds between characters, particularly the husband and wife.
Kerry Low

Circe by Madeline Miller

Genre: Fantasy Fiction/Greek Mythology
Overview: Set during the Greek Heroic Age, this is an adaptation of various Greek myths, most notably the Odyssey, as told from the perspective of the witch, Circe. The novel explores Circe’s origin story and her encounters with mythological figures such as Hermes, the Minotaur, Jason, Medea, and ultimately her romance with Odysseus and his son, Telemachus.
My take: The language is delicious and storytelling sublime!
Feel-good factor: I felt entertained reading this (something that would not usually be my first choice).
Perfect for:  Readers searching for escapism, adventure and wonder whilst on holiday.
Jolene Cornford

Sisters Under the Rising Sun by Heather Morris

Genre: Historical Fiction
Overview: In the midst of World War II,  II, as Singapore falls to the Japanese, two sisters find themselves on a ship carrying a a terrified cargo of people. Eventually, Nesta and Norah reach the beaches of a remote island, only to be captured by the Japanese and held in one of their notorious POW camps. Sisters in arms, Norah and Nesta fight side-by-side every day.
My take: This is very well written and researched. It was interesting learning more about the wartime history of Singapore, the occupation of Indonesia, and the involvement of Australian nurses in the war.
Feel-good factor: It makes you feel very grateful not to have lived in those times, and brings out huge admiration for women who cope in adversity.
Perfect for: Lovers of historical fiction.
Anon

OPEN by Andre Agassi

Genre: Autobiography
Overview: American former world No. 1 tennis player Andre Agassi writes about his inner conflicts and a life balanced between destruction and perfectionism. It’s the story of one man who hated tennis, and then became one of the world’s best players.
My take: Both gripping and touching, it will captivate you even if you know nothing about the game. I have read it three or four times already!
Feel-good factor: This book is a reminder that we all go through battles in life, highs and lows, good and bad, but we deal with it. Mostly, I liked the insights into what he was going through behind the media circus, whether it was drugs or losing his hair and wearing a wig.
Perfect for: Anyone and everyone from teenage years upwards, and especially those interested in overcoming fears and striving forwards.
Rich Foltin

The Dictionary of Lost Words by Pip Williams

Genre: Contemporary fiction, Historical intrigue
Overview: This novel follows Esme, whose father works on compiling the dictionary. Esme becomes fascinated by language and she starts collecting words excluded, lost by editors, or heard on the streets.
My take: This story is seamlessly woven in with historical events, providing a heightened sense of understanding of what motivated the behaviour and actions of all the characters over time.
Feel-good factor: It reminded me to be appreciative of the opportunities I have as a female today, thanks to those who came before me.
Perfect for: If you’re curious about the hidden stories behind words, appreciate historical context, and believe in the power of everyday language, this book is your cosy nook.
Megan Scott

What Dachshunds Want: In Their Own Words, Woofs and Wags by Jane Eastoe

Genre: Factual
Overview: My Oma in Melbourne just bought me this book. The lovely thing about it is that it’s written as if a dachshund is talking to you and telling you how to own them, love them and treat them right. Jane Eastoe also explains the awesome history of this dog.
My take: I’ll have my own dachshund when we move back to my home, Australia. Whoo!
Feel-good factor: This is a very special book because it will tell you something new in every sentence.
Perfect for: Fans of dogs!
Nina, age 10

How to Kill Your Family by Bella Mackie

Genre: Dark comedy
Overview: When Grace Bernard discovers her absentee millionaire father has rejected her dying mother’s pleas for help, she vows revenge, and sets about to kill every member of his family. Grace makes a start – one by one – and the result is as gruesome as it is entertaining.
My take: Who hasn’t wanted to bump off at least some of their family?! Even though the protaganist in this story is a mass murderer, you’re rooting for her because she feels very human.
Feel-good factor: It made me relieved that I genuinely like my family!
Perfect for: People who enjoy black humour (think Dexter, Baby Reindeer vibes).
Lizzi Seear

Finding Me by Viola Davis

Genre: Memoir
Overview: Meet Viola, a girl who ran from her past until she made a life-changing decision to stop running forever. This story takes you from a crumbling apartment in Central Falls, Rhode Island, to the stage in New York City, and beyond. Viola reveals the path she took to finding her purpose and her voice.
My take: If you think you’ve ever had a tough moment in life, read this story and then think again. It’s an inspirational, brutally honest, and truly inspiring tale of someone achieving success, not to mention just barely surviving.
Feel-good factor: It made me feel shocked, sad and inspired that as humans we can live so closely together, yet at the same time have experiences that are worlds apart.
Perfect for: Someone looking for inspiration to overcome adversity.
Corinne Smith

The Rose Code by Kate Quinn

Genre: Historical fiction
Overview: Kate Quinn connects historical events and fictional characters in an intriguing story set during World War II,  centered around the lives of three women codebreakers. Osla, Mab, and Beth are based in different functions within Bletchley Park, but all work together to crack the German Enigma code.
My take: This has great storytelling and attention to detail following the exploration of friendship, loyalty and intelligence of women and men, working together to achieve a world-changing outcome.
Feel-good factor: It kept me on the edge of my seat. The codebreaking scenes are both exciting and educational.
Perfect for: Those who love the intrigue of code-breaking, friendship and mystery.
Mary Boldiston

 

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