Income Tax 2020

[Destroybot]

This year there are no personal income tax rebates announced yet, most are affected by the Covid-19 virus yet have to pay steep income tax. (Yes income is high but most are single breadwinner, not only have to support childrens, old age parents are also dependant on us.)

Any idea if there will be annoncement soon or budget 2020 is done deal?

 

[BBCWatcher]

This year there are no personal income tax rebates announced yet, most are affected by the Covid-19 virus yet have to pay steep income tax.

I don't think that's true. If you're on monthly GIRO income tax payments -- and most people are, aren't they? -- your income tax bill is generally pretty steady month to month. If you aren't on GIRO income tax payments yet, then you can switch to them.

If you're suggesting that Singapore should switch to a "pay as you go" income tax system (rather than "pay in arrears"), "be careful what you wish for."

Moreover, general income tax relief isn't actually a good way to respond to this situation in policy terms. The government is doing a lot of other things instead, such as payroll retention incentives, sick leave support, and small business rent relief.

 

[limster]

This year there are no personal income tax rebates announced yet, most are affected by the Covid-19 virus yet have to pay steep income tax. (Yes income is high but most are single breadwinner, not only have to support childrens, old age parents are also dependant on us.)

Any idea if there will be annoncement soon or budget 2020 is done deal?

if we want to support children and elderly in times of need, then we should have subsidies and programmes that help them directly rather than helping giving income earners a tax break. after all, not all income earners are supporting children/elderly.

 

[henrylbh]

This year there are no personal income tax rebates announced yet, most are affected by the Covid-19 virus yet have to pay steep income tax. (Yes income is high but most are single breadwinner, not only have to support childrens, old age parents are also dependant on us.)

Any idea if there will be annoncement soon or budget 2020 is done deal?

Why should there be extra tax reliefs or rebates just because of Covid-19? Sg personal tax rates is already very low and reliefs high.

Govt should increase personal tax rates instead of GST But increasing the latter would generate much more revenue than increasing personal tax rate.

 

[henrylbh]

I don't think that's true. If you're on monthly GIRO income tax payments -- and most people are, aren't they? -- your income tax bill is generally pretty steady month to month. If you aren't on GIRO income tax payments yet, then you can switch to them.

If you're suggesting that Singapore should switch to a "pay as you go" income tax system (rather than "pay in arrears"), "be careful what you wish for."

What kind of response is that?

 

[JuniorLion]

This year there are no personal income tax rebates announced yet, most are affected by the Covid-19 virus yet have to pay steep income tax. (Yes income is high but most are single breadwinner, not only have to support childrens, old age parents are also dependant on us.)

Any idea if there will be annoncement soon or budget 2020 is done deal?

It's a done-deal. Personal Income Tax rebate is announced at Budget of the year.

 

[starlight318]

Most are affected by virus? Don't think this is true.. mainly business owners rather than salaried workers..although some took a pay cut due to the virus situation I wouldn't say it's 'most' ppl.. if any, govt can provide the ppl affected w some help but probably not via personal income tax rebate

Most are single income breadwinner? Most ppl I know both husband n wife working...

Moreover income tax is already v low in SG

 

[bazingaman]

No complaints but curious why the iras doesnt allow / stopped doing a combine filing?

 

[SBC]

Income is too low. Still got outstanding PTR.

Another tax-free year.

 

[Shion]

I don't think there is any personal tax rebate for YA2020

 

[Squaredot]

I don't think there is any personal tax rebate for YA2020

No there isn't any

 

[SBC]

Wait for next year. Very likely to have.

 

[chopra]

huh. i filed liao. if have need refile leh

 

[AhBaThen]

Once file, deal done.
Appeal, also no use.

Been there, done that.

huh. i filed liao. if have need refile leh

 

[Shion]

huh. i filed liao. if have need refile leh

This tax relief if have, automatically included once you file...no ?

 

[cassowary18]

Got 50% tax rebate (capped at $200)
https://www.iras.gov.sg/irashome/In...ndividuals/Personal-Tax-Rebate--for-YA-2019-/

 

[reddevil0728]

Got 50% tax rebate (capped at $200)
https://www.iras.gov.sg/irashome/In...ndividuals/Personal-Tax-Rebate--for-YA-2019-/

that's last year...

YA2019 = CY2018
YA2020 = CY2019

 

[cassowary18]

that's last year...

YA2019 = CY2018
YA2020 = CY2019

Paiseh

 

[henrylbh]

huh. i filed liao. if have need refile leh

What need to refine? Any rebate will be auto given.

 

[henrylbh]

Once file, deal done.
Appeal, also no use.

Been there, done that.

Not true. Can go back 6 years of assessment.