New Billing Cycle and GST Increase | Storefriendly

New Billing Cycle and GST Increase

New Billing Cycle and GST Increase

As we enter the close of the year, we want to express our gratitude for the continued support for Storefriendly from all our customers. Today, we have two important updates to share with you regarding our services.

1. New Billing Cycle

In our efforts to streamline our billing process, we are making a change to the billing cycle. Instead of being billed on the day of your move-in date each month, we will now be transitioning to a calendar month billing cycle.

Here’s what you need to know:

December Billing:

From December, we will start issuing the last bill that follows the current billing cycle for current customers, while new customers will start on the new billing cycle.

This will allow all our customers, new and old, to enjoy the 8% GST period before the further increase kicks in.

January Billing:

In January, we will generate your prorated bill that covers the remaining days in January. This aligns everyone to the new billing cycle.

In certain cases, we will contact you directly specific to your situation.

February Billing:

Starting from 1 February 2024, your new billing cycle will follow the calendar month. You will be charged at the beginning of each month.

We believe this change will provide greater clarity and simplicity in managing your billing cycles.


2. GST Increase to 9%

Starting from 1 January 2024, the Goods and Services Tax (GST) in Singapore will be increased to 9%. This adjustment is in accordance with government regulations, and we want to remind you in advance to ensure a smooth transition.

If you have any questions or concerns about the new billing cycle, please do not hesitate to contact your respective branch team.

Thank you for your understanding and continued trust in our services. We value your business and look forward to serving you better in the coming year.