Of all the infamous sayings in the world, there’s none more unpleasantly true than this one – “Nothing can be said to be certain in this world, except death and taxes”. Although Singapore has one of the lowest personal income tax rates in comparison with the rest of the world, its citizens still have a super high cost of living to contend with.

Firstly, it is imperative to get over the fear of tax season and acknowledge that impeccable methodology always triumphs over madness, so do not get intimidated by the complexity of the tax filing process. That’s why you must proactively organize your financial statements and details throughout the year to make proper utilization of tax relief schemes......