Income Tax Reliefs: Who Qualifies and What You Get
Learn how tax residents in Singapore can reduce their taxable income through various relief schemes and what you need to do to qualify.
Income Tax Reliefs are provisions that allow you to reduce the total amount of your income that is subject to tax.
Who it's for
This is available to tax residents living in Singapore.
What you get
You can lower your chargeable income—the portion of your earnings that the government actually taxes—by claiming various reliefs. These can include deductions for things like course fees or support for your parents.
What it costs you
There is no direct monetary cost to claim these, but you are required to file your annual tax returns to access them.
The catch to know
You cannot claim an unlimited amount. There is a cap on the total value of reliefs you can use, so you should check the annual limit set by the authorities.
How to apply
- Gather your receipts or documentation for qualifying expenses like education or family support.
- Prepare your information for your annual tax filing.
- Submit your tax return through the official portal.
Check the official portal for more details: https://www.iras.gov.sg