IRAS & SRS

[kenpachi82]

Hi guys,

Would like to ask if I made a contribution to SRS in 2014, is it tax deductible for assessment year 2014 or 2015? Didn't see the deduction in my tax preview...
Thanks!

And I didn't know can claim relief for insurance policies.. so most of you just input the two most expensive policies?

 

[Yo2020]

contributed to srs in 2014 will b deductiable in assessment year 2015, which is this yr.

 

[lzydata]

Year of Assessment 2015. YA2014 is already past. All SRS contributions should be automatically updated with IRAS by the SRS operators, so maybe you just have to wait a bit?

IRAS: SRS tax relief

As for life insurance relief, unfortunately it is only for people who had mandatory employee or self-employed CPF contributions of $5k or less, so low-income earners.

IRAS: Life insurance relief

 

[hyperbole]

H
And I didn't know can claim relief for insurance policies.. so most of you just input the two most expensive policies?

your cpf contribution last year less than 5k?

IRAS: Life insurance relief

 

[henrylbh]

My contribution is much lesser than 5k. But I got no insurance except incomeshield

Should also be getting WIS but disqualified in 2014 because I downgraded from EA of 143 sqm to EC of 77 sqm

 

[chiokcc]

Apologies for hijacking the thread.

I donated through the various charity shows on Mediacorp, but check my IRAS form for filing, looks like those donation I made not included for deduction leh. How?

 

[henrylbh]

Apologies for hijacking the thread.

I donated through the various charity shows on Mediacorp, but check my IRAS form for filing, looks like those donation I made not included for deduction leh. How?

You donation is for entertainment not charity lah.

 

[The Accountant]

Apologies for hijacking the thread.

I donated through the various charity shows on Mediacorp, but check my IRAS form for filing, looks like those donation I made not included for deduction leh. How?

it has to be a approved Public Character in order to enjoy the 2.5 times tax deduction.
ref: IRAS: Donations and Tax deductions

 

[Perisher]

Now then I know this... do good deeds but not recognised, not that people who donate will giam about this, but encourage with a little incentive also not bad since it's donation afterall. Having said that, let's bring out the goodness and donate with or without tax incentive.

 

[kindman1]

The Mediacorp charity shows are not tax deductible?