IRAS Tax Reliefs: Who Qualifies and What You Get
Learn how tax reliefs work in Singapore to reduce your taxable income and lower your overall tax bill.
Tax reliefs are various incentives provided by the government to reduce the amount of your income that is subject to taxation.
Who it's for
This scheme is available to individuals who are considered tax residents of Singapore.
What you get
These reliefs help lower your taxable income. For example, you may be able to use Earned Income Relief to reduce the portion of your salary that is taxed. By lowering your taxable income, you may end up paying less in total tax.
What it costs you
There is no direct monetary cost to claim these reliefs, but it does require you to file your tax returns annually.
The catch to know
While many reliefs are automatically included in your tax filing to make the process easier, you should always double-check your details to ensure you haven't missed any reliefs you are eligible for.
How to apply
- Gather your financial records and documentation for the year.
- Log in to the official tax portal.
- Review the pre-filled information for accuracy.
- Verify that all eligible reliefs have been applied to your income.
- Submit your tax return via the official portal: https://www.iras.gov.sg