What happened?
Nothing can be said to be certain, except death, taxes, and
sweating buckets when you leave your house. So it wasn't a surprise that the
Beansprout community started discussing about ways to reduce our income tax recently. After all, the deadline for your
personal income tax submission in Singapore will be
18 April 2024 for e-filing. Many wanted to find out how we can get to the maximum of $80,000 in tax relief. Some of the suggestions offered include Matched Retirement Savings Scheme, working mother child relief,
CPF top up and
Supplementary Retirement Scheme (SRS). If you are like our younger colleague filing taxes for the first time and find these ways to enjoy tax relief foreign, read on to find out more.
Personal Income Tax in Singapore
For the Year of Assessment (YA) 2024, the assessment is done for the income that you have earned in the...