Tax season is here again, the time of the year when we have to file our taxes and feel the pinch when we receive the tax bills. Singapore’s income tax system is progressive, so the more you earn, the more you will be taxed. For example, an executive earning $100k a year will be looking at taxes of $5,650 before any reliefs while a CEO earning $320,000/yr can pay as much as $44,450 in taxes. The good news is there are various tax relief initiatives you can leverage to save money off your taxes. Here are 5 tax reliefs that can help you legally reduce your income tax 1. Contribute to Supplementary Retirement Scheme (SRS) The Supplementary Retirement Scheme (SRS) is a voluntary scheme to encourage individuals to save for retirement. The amount you set aside in SRS g  ...