Not rabbit or duck season
It’s March, so it’s that time of the year again to file your taxes. If you are currently employed, your income tax information is likely to have already been filed for you by your employer. All you need to do is check through the form B1 on IRAS myTax Portal and make any adjustments necessary (personal tax reliefs, non-employee income, etc). If you are in a tax paying position, thank you for your contribution to nation building!
This year is my first time paying a nominal amount of taxes as I didn’t actively perform tax planning to mitigate my taxes to zero last year. This was because I’m not currently in a high income tax bracket and I wanted to retain more flexibility over my funds, something I’ll explain in future posts.
In the spirit of tax season, I’ll be mixing in some …