Defer RSTU cash top-up till Income Level reaches higher tax bracket, yay or nay?

Taxes are essential for nation-building and developing Singapore into a stronger community, a better environment and a more vibrant economy. While it is crucial for the nation to collect more taxes; taxes at the same time is an expense out of the pocket for an individual — reducing the amount of taxes payable through legit

Breakdown on Tax reliefs numbers

Fun fact: Today, there are 15 tax reliefs, each serving an objective. Taken together, the reliefs can unduly reduce the taxable income. Earlier, I was just briefly looking at income tax reliefs from CPF contributions, CPF top-ups and SRS top-ups. Having some time at hand, I delve into the other tax reliefs over the years

Why I stress that working Singaporeans should maximise their tax reliefs

All working adults are assessed on their income earned. After taking into account tax reliefs and rebates, a good 74% pay taxes on their income. As mentioned in my earlier article on avoiding paying too much taxes, many people still confuse tax relief with tax rebate. A tax relief is deduction from the total income to derive your

Avoid paying too much income taxes

Income taxes are a financial burden to working individuals. It is essential is to recognise that there is a way to lessen this burden by maximising the tax reliefs claimable for each assessment year. From Year of Assessment (YA) 2018, the total amount of personal income tax reliefs which you can be allowed is subject