Filing your personal income tax in Singapore might seem daunting, but understanding the required fields and inputs can simplify the process. This guide will walk you through the essential information you’ll need to ensure a smooth and accurate filing.

1. Personal Particulars

  • Identification Details: Your NRIC (National Registration Identity Card) or FIN (Foreign Identification Number) is crucial for identification purposes.
  • Contact Information: Ensure your residential address, email address, and phone number are current for any official communication.

2. Income Details

  • Employment Income: This includes your salary, bonuses, allowances, and any other benefits you’ve received from your employment. Your Form IR8A from your employer will provide these details.
  • Self-Employment Income: If you’re self-employed, you’ll need to declare your business income after deducting allowable expenses.
  • Rental Income: If you own property and earn rental income, declare the gross rent and any deductible expenses.
  • Investment Income: Declare any income received from dividends, interest, or other investments.

3. Deductions

  • Personal Reliefs: You may be eligible for various personal reliefs, such as those for spouse, children, or parents.
  • Qualifying Donations: If you’ve made donations to approved institutions, you can claim deductions.
  • Course Fees: Deductions can be claimed for fees paid for approved courses.
  • Insurance Premiums: Declare any premiums paid for life insurance or other eligible insurance plans.

4. Tax Reliefs

  • Earned Income Relief: This is a basic relief granted to individuals who have earned income.
  • CPF Reliefs: Contributions made to your Central Provident Fund (CPF) may qualify for tax relief.

5. Declaration

  • Accurate Information: You’ll need to declare that all the information provided is true and accurate.
  • Submission: Ensure you submit your tax return by the stipulated deadline to avoid penalties.

Navigating these requirements might seem complex, but with proper preparation and accurate records, filing your personal income tax in Singapore can be straightforward. If you need assistance or tailored advice for your specific situation, the experienced team at Raffles Corporate Services Pte Ltd is here to help.

For further assistance or inquiries, you can contact the Raffles Corporate Services team via email at hello@rafflescorporateservices.com.

Yours sincerely,

The editorial team at Raffles Corporate Services