What are the minimum business spending requirements for the 13O and 13U tax incentive schemes?
Family offices under the S13O scheme must incur a minimum total business expenditure of S$200,000 (US$146,000) per year. This is governed by a tiered framework based on the value of the AUM.
Unlike the S13O scheme, family offices under the S13U scheme must incur a minimum local business spending of S$500,000 (US$(US$366,000).
For the local business spending requirements, expenses incurred should relate to the operating activities of the fund, as opposed to financing activities.