I just did my income tax filing for Year of Assessment 2015. Yes, I am always quite early, preferring to get it out of the way ASAP.
My estimated income tax payable has reached a new low.
I have shared some ways which could help us pay less income tax before and I have included the links at the end of this blog.
This year, the government, to celebrate SG50, is allowing all qualifying donations a tax deduction of 300% of the donation amounts in 2015. This is up from 250% in recent years.
As we journey towards financial freedom, let us not forget the less fortunate. Do good and pay less income tax? Why not? I am sure all of us can find a charitable cause that we support in 2015......