Personal Finance
Letter from IRAS on tax reliefs and rebate
By Finance Smiths  •  January 28, 2020
I’m still on leave and it’s nice to stay at home as a family recovering from the CNY visits. My wife is watching the Australian Open tennis, helper is cooking lunch and the baby is sleeping. A good time to post about this letter from IRAS that we received. It was to notify us that we qualify for the Qualifying Child Relief (QCR), Working Mother’s Child Relief (WMCR) and Parenthood Tax Rebate (PTR) for the YA2020 – 1 Jan 2019 to 31 Dec 2019. Reason is because we now have a child and the Government knows it. Always convenient for IRAS to pick up on this and automate our qualification for the QCR, WMCR and PTR in the upcoming tax filing season. The interesting thing about the IRAS letter is that they split the reliefs and rebate portions as 50% – 50% to keep the benefits equal between my wife and I. However, IRAS asked us to make changes to the...
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By Finance Smiths
Late 30’s couple with 2 small kids living in Singapore writing about our financial progress as a family.
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