6 Ways to Reduce Income Tax in Singapore
Вставка
- Опубліковано 25 лип 2024
- The year is ending and here are some ways to reduce the income tax you have to pay in Singapore. Subscribe to sethisfy.com/telegram for my content and great deals
Written article: sethisfy.com/6-ways-to-reduce...
00:00 - Intro
00:15 - Top up CPF
01:41 - Contribute to SRS
03:11 - How it fits into my FIRE plan
04:03 - Contribute to charity
05:26 - Claim relief for work-from-home expenses
06:01 - Make sure to claim all eligible reliefs
06:32 - Use payment services to pay for income tax
07:10 - Some updates on my UA-cam channel!
07:41 - Crazy cat person stuff - Навчання та стиль
Hey if you enjoy my content please check these out:
Join my Telegram for more content and great deals! sethisfy.com/telegram
💳 Credit card deals: sethisfy.com/cards
🔥 Easy money: sethisfy.com/deals
Super video. Thanks for making it!
Question : how do I get tax exemption for work from home electricity charges? Must send IRAS before and after bills?
An idea for ur next video: for those of us who have new borns, what are the best tax tactics?
I think the way IRAS works on a declaration basis. You have to keep the bills, but they won't require you to send unless they audit you.
Correct me if I’m wrong. There’s actually another way to reduce income tax - that is to claim your condo MCST fees paid for the year, and if you are renting out your flat - to claim for any expenses incurred in repair works and maintenance for the rented flat. I did that last time.
Yes expenses incurred to derive rental income can be claimed for tax relief. Mortgage interest can also be claimed.
May I know how are you related to the Children’s Wishing Well charity? Thanks.
I have no relation to Children's Wishing Well. Was surfing giving.sg and decided to highlight the charity. Last year we did Children's Cancer Foundation.
Kudos to you for a very compassionate and charitable act, role modelling for your students and followers! Cheers!
Hi, Seth,
if a CPF SA account has $200k. Account owner have withdrawn $50k for investment. Left $150k in CPF SA account. If top up $7k by cash, can we get the cpf cash top up tax relief for the $7k n reduce the income tax? This is because before withdraw for investment is above FRS n after withdraw is below FRS.
The max top up you can receive is the FRS minus the SA balance and minus amount withdrawn for investment. So even if withdrawn for investment, you will still not be able to top up if the FRS is less than the $200,000 amount.
the purring is a different relief