Personal Tax Rebate (YA2015)
Personal Tax Rebate (YA2015)
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.