I received a message yesterday night evening with a good friend, exclaiming how come her income tax payable received this year is so much higher. For a person who does budgeting, this is a jolt to her envelope budgeting system. I am sure you guys and gals would also have more acquaintances exclaiming the same thing, scolding the good for nothing garment for jacking up the taxes with nothing to show for.

No more Income Tax Rebate

In 2015 budget, the government gave an income tax rebate of up to $1000.

As part of SG50 Jubilee celebration, all tax resident individuals will receive an income tax rebate of 50% of tax payable, up to a cap of $1,000, for the Year of Assessment 2015.

If you fall within that tax bracket, you will see your tax payable halved. Usually these tax rebates do not happen every year.

Your brain ...

...