Welcome to the final part of my basic personal income tax planning series! In this series of posts I hope to cover the following topics:

Tax reliefs CPF Cash Top Up Supplementary Retirement Scheme (SRS) Bringing it all together – How to best utilise these reliefs to your advantage

In this part, I will cover the considerations and general strategy I use to mitigate my personal tax bill.

General Strategy

The general strategy for tax planning is as follows:

Maximise your family support reliefs Once those are maxed out, consider if further tax mitigation is necessary using retirement support reliefs.

The reason for this is that family support reliefs are always there every year as long as you qualify. If you don’t claim the reliefs, it is wasted. As for retirement support reliefs, there are real downsides to using those reliefs as identified in part 2 & 3. This …