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Monday, April 17, 2006

Tax

Juz some tax relief for personal tax. I juz learn today.

Tax relief

All will get
1) Earned income relief of $ 1,000 for below 55. But only for employment and partnership trade

Men
1) Reservist relief $3,000 if got call up, $1,500 if not called

Handicap spouse / child relief
1) If your spouse/ child is a handicap, you get $3,500. conditions applied

Child relief
1) Child relief of $2,000. Condition applied

Husband
1) Wife relief of $2,000 if wife earned less than $2,000

Wife
1) Working Mother relief
2) Grandparent relief
3) Maid relief
4) Rerservist relief of $750 if you are wife of NSmen.

Parent relief
1) Relief of $5,000 if u stay with parents, they are of 55 and above and income less than $2,000
2) Handicap parent got additional $3,000

Handicap sibling
1) Relief of $5,000, if sibling income less than $2,000

Insurance and CPF relief
1) Relief of max total of $5,000

Parenthood Tax Rebate
1) Tax rebate ranging $10,000- $20,000 for 2nd - 4th child.

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