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Showing posts with the label SRS

Tax Relief Strategies

  Tax season has started. My friends were wondering if there was any way to maximise their relief. So… here goes To be fair, IRAS has created a self-service portal here . Once you check the boxes, all the reliefs that might apply will be shown. I’ll cover the ones that mattered more to me + one bonus for working mothers that’s off everyone’s radar. Common ones These are the popular ones that are highly publicised:        CPF Cash Top up to MA/SA – up to $8000       CPF Cash Top for spouse/parents up to SA/RA – up to $8000     **it’s important if your parents are eligible  MRSS top-up **        SRS Cash Top up – up to $15,300   Donations This is less talked about as people are quite private or humble about the charities they support. You do get 2.5X tax relief for donations made to local charities. I was sulky over this as I’m doing a child sponsorship overseas that doesn’t qualify. So on top of that, I do...