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Tax Relief in Singapore: Ways to Reduce Your Income Tax
By Beansprout  •  March 30, 2024

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...
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By Beansprout
Hi, I’m Gerald! I have been working in investment analysis for more than 12 years. Often, I encounter everyday investors who find it difficult to invest. At Beansprout, we believe that with the right tools and knowledge, everyone can be an investor. Hence, we founded Beansprout to make quality investment insights more accessible. We hope that you can join us on this journey to grow your financial knowledge and confidence as an investor.
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