So I am filing taxes for the first time..
Logged in and realised some things:-
1. They are taxing my ippt and marksmen award. Piangz..even though they give me nsmen relief doesn't mean they have to do that. Niao..
2. I cannot claim parent relief ($5k) if my dad claims wife relief ($2k). FYI, my mum doesn't work and is >55 yrs old. For those who are not too mathematically inclined, it means my dad's tax rate has to be 2.5 times more than mine if he should claim his and not mine. For those who still don't understand...
2000a = 5000b
=> a/b = 5000/2000 = 5/2 = 2.5
where a is my dad's tax rate, and b is mine.
Please note that personal income tax rates are stepped, i.e. income is taxed at different rates at different levels
On a side note, I wonder how does the IRAS choose if both my dad and I claim.
3. You can apply for GIRO instalment plan online if you have DBS internet banking. Yay..less hassle.
4. I was employed by 2 employers last year although I did not change jobs. Ernst & Young and Ernst & Young Solutions (ok not very relevant)
5. Even my $25 donation to NTU (double deduction at $50) is recorded. No need to give receipt. The IRAS really has all the info.
Anyway, I work in Corporate Tax. So Personal Tax is not my expertise. However, if you insist in asking me for help, charges apply! haha
No comments:
Post a Comment