From the Year of Assessment (YA) 2027, new rules will apply to the CPF Cash Top-Up Relief scheme, changing how much relief you can claim and who qualifies. This update is part of Singapore’s ongoing efforts to enhance retirement adequacy...
Singapore has an extensive network of Double Tax Agreements (DTAs) with other countries, ensuring that individuals and businesses are not taxed twice on the same income. This guide provides a detailed overview of Singapore's DTA network, key benefits, and how...
Singapore’s tax system offers multiple personal reliefs that help residents lower their taxable income. For Year of Assessment (YA) 2025, understanding and claiming these reliefs can make a significant difference in reducing your tax bill. Here’s the full breakdown for...
The Common Reporting Standard (CRS) is a global initiative to improve tax transparency and combat cross-border tax evasion. For individuals and businesses with bank accounts in Singapore, CRS means that your account information may be automatically shared with tax authorities...
The Inland Revenue Authority of Singapore (IRAS) conducts audits to ensure tax compliance across individuals and businesses. While some audits are random, many are triggered by certain tax reporting red flags. This guide outlines the most common triggers for IRAS...
A practical guide for first-time taxpayers in Singapore to avoid the most frequent tax filing errors, stay compliant with IRAS, and make the most of available reliefs and deductions. 📌 Why New Taxpayers Struggle Filing taxes in Singapore is relatively...
Supporting your elderly parents or grandparents in Singapore can help you qualify for significant tax savings under the Parent Relief or Handicapped Parent Relief schemes. Here’s a complete breakdown of how to claim these reliefs for YA 2025 and beyond....
A complete guide for sole proprietors in Singapore on what business expenses can be claimed, how to maximise tax savings, and how to stay compliant with IRAS rules. 📌 Understanding Sole Proprietorship Taxation In Singapore, a sole proprietorship is taxed...
Parents in Singapore can significantly lower their taxable income by claiming Qualifying Child Relief (QCR) or Handicapped Child Relief (HCR). Understanding the differences, eligibility rules, and claim strategies will help you maximise your tax savings for YA 2025 and beyond....
Giving to charity not only supports worthy causes but also offers generous tax savings. In Singapore, qualifying donations can grant you a 250% tax deduction — one of the highest in the world. Here’s everything you need to know about...
