Each year, hundreds of tax deductions and credits may go unclaimed due to the lack of taxing knowledge. To prevent that, here are 5 Tax Deductibles You Need To Know based on the Inland Revenue Authority of Singapore. FOR THE EMPLOYEE 1. EMPLOYMENT EXPENSES A good news for all employees—employment expenses can be claimed as long as they satisfy these three conditions: a. Expenses are sustained when carrying out official duties. b. Expenses are not reimbursed by the employer. c.
Income tax filing day are just months away and i know you hate the reminder. Even while i’m here writing this – you would have paid for your dinner that comes with a Good and Services Tax, leaving you 17% of the cost of the meal poorer. You may also have to pay for the property or road tax that are due. For those that smoke and drink, thanks for the additional contribution of excise duties and tobacco tax. And for
Benjamin Franklin once said nothing in life is certain but only two things are: death and taxes. In the unlikely event of your death, have you made sufficient planning so that your last wish could be fulfilled? Dying without a will, also known as intestacy, could give your family and loved ones a hard and frustrating time to sort out what you left behind. (I hope you left assets and not debts) Therefore it is crucial to make sure that
When the year is coming to a close, the taxman dress up as Santa Claus and comes knocking on your door. If you have earned at least $22,000 in a year, you will receive a notification from IRAS to file your tax return between February and March. Nobody like to pay tax. Let’s admit it. Fortunately, there is a way to not pay it or reduce the total tax liability payable. No and this guide is not going to teach