Tax question

[Can Or Not]

Tax relief refers to a deduction in assessable income, not a deduction from your tax payable

For illustration, you earn $5000, pay $500 in income tax. You got a tax relief of $500, it means you pay taxes for $5000 - 500 = $4500.... which might mean a $450 income tax....

Come on leh... this is something you should know even while in secondary school

Which secondary school teaches this sia

 

[Dividends]

I am not asking about tax calculation of assessable and chargeable income.

I am asking about tax payable amount for VC MA/SA for waival. Is this a dollar VC MA/SA for a dollar waived

Short answer, no.

Long but simplified answer, it depends on your tax bracket, if your highest tax bracket is 20%, then a $5,000 VC will reduce your tax by $1,000.

 

[harbinger255]

Which secondary school teaches this sia

Basic problem solving leh.... maybe really not all schools equal then.....

 

[Can Or Not]

Basic problem solving leh.... maybe really not all schools equal then.....

Usually tax problem needs tax professionals

 

[harbinger255]

Usually tax problem needs tax professionals

Tax professional spotted

 

[Askonforum]

Short answer, no.

Long but simplified answer, it depends on your tax bracket, if your highest tax bracket is 20%, then a $5,000 VC will reduce your tax by $1,000.

Yeah, I am asking tax payable. Tax payable is after tax bracket

 

[Can Or Not]

Tax professional spotted

I done tax before but unprofessionally … like that can?

 

[Can Or Not]

Yeah, I am asking tax payable. Tax payable is after tax bracket

Simi is tax bracket…

 

[harbinger255]

I done tax before but unprofessionally … like that can?

Not I grade your work leh.... Chiu go ask your teacher/boss whether your work pass or not...

From what I hear... Professional means service with a smile even though customer unreasonable

 

[8zaoyu]

Tax relief refers to a deduction in assessable income, not a deduction from your tax payable

For illustration, you earn $5000, pay $500 in income tax. You got a tax relief of $500, it means you pay taxes for $5000 - 500 = $4500.... which might mean a $450 income tax....

Come on leh... this is something you should know even while in secondary school

Ultimately, to get Tax RELIEFS, you must add in as many dependents as possible like
1st child, 2nd child, 3rd child, supporting handicap siblings/parents (staying w or not w u), NS relief, working woman, etc ???

 

[Can Or Not]

Not I grade your work leh.... Chiu go ask your teacher/boss whether your work pass or not...

From what I hear... Professional means service with a smile even though customer unreasonable

Professional means got academic qualifications plus necessary experience….

Unreasonable customer can go fly kite

 

[harbinger255]

Professional means got academic qualifications plus necessary experience….

Unreasonable customer can go fly kite

To learn how to smile at customers? Really? We really went to very different schools then

 

[Can Or Not]

To learn how to smile at customers? Really? We really went to very different schools then

I ask my friend last time since he work in big 4 for tax advice… he say no money no talk… I also ask him to fly kite … and threw thunder at him…

 

[David Lai]

Don’t understand you talk simi

”waival“ is which country lang lingo?

started here, means new singlish vocab form lor…
like ‘chibaboomz’…

 

[articland05]

TS wait long long
PAP where got so stupiak de

 

[OneUpsize]

If I need to pay $200 tax, I VC SA/MA $200, means tax waival?

$1 for $1 voluntary contribution = tax waival?

bro chiu come singapore work and live here, still don’t want pay tax. your country also like that ah.

 

[wwenze]

Basic problem solving leh.... maybe really not all schools equal then.....

Some schools graduate liao no need pay income tax.

 

[wwenze]

bro chiu come singapore work and live here, still don’t want pay tax. your country also like that ah.

Lagi better. Study at home country university, pay GST in Singapore, go back home to give birth and some even raise children.

I'm surprised the home country haven't done anything.

 

[coyote]

bro chiu come singapore work and live here, still don’t want pay tax. your country also like that ah.

How to tell ts is foreigner?

 

[eAtNeAt]

It's deducted from chargeable income, before the tax rate percentage is applied. So vc will reduce abit.