Tax season is upon us again. For the first time since I started working, I was informed by IRAS that I was not eligible for No Filing Service and had to e-File my taxes this year. I blame this on my honesty for declaring my P2P lending interest in my taxes last year 🤣
I’ve written extensively on tax planning during tax season last year, so I thought I’ll give you some reminders instead. Here are my 4 tax planning tips to consider when filing your taxes for YA2019.
Claim all your due personal reliefs
No Filing Service has made it extremely convenient for Singaporeans to file their taxes. However, it potentially creates a careless attitude amongst Singaporeans towards their taxes.
Do educate yourself on the various personal reliefs available to you and claim those that apply to you. Not claiming them is just you creating an unnecessary