Taxes

Personal tax rebate (YA 2015)

As part of SG50 Jubilee celebration, all tax resident individuals will receive an income tax rebate of 50% of tax payable, up to a cap of $1,000, for the Year of Assessment 2015. The cap is set at $1,000 so as to ensure that the benefits go mainly to the middle and upper-middle income groups.

The 50% tax rebate is calculated based on the tax payable after double taxation relief (DTR) and other credits but before set-off of the Parenthood Tax Rebate.

You do not need to apply for this rebate as IRAS will compute this rebate automatically for all tax residents.

Reference
Click here for further reference to IRAS.