Category Archives: Tax

Approved Donations For Tax Deduction

Approved Donations For Tax Deduction     Only approved donations to Institutions of Public Character (IPC's) qualify for 2.5x deduction and carry forward (up to 5 years) if unutilized. Gifts to staff do not qualify for the enhanced deduction (250%) though they qualify for tax deduction (100%) since they fall within the ambit of staff…
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SRS Contributions

SRS Contributions     The Supplementary Retirement Scheme (SRS) is a voluntary scheme to encourage individuals to save for retirement, over and above their CPF savings. Contributions to SRS are eligible for tax relief. Investment returns are tax-free before withdrawal and only 50% of the withdrawals from SRS are taxable at retirement.   Qualifying for…
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How To Maximize Your CPF Cap For Your Tax Planning?

How To Maximize Your CPF Cap For Your Tax Planning?¬†     Tax Planning Tips : How to maximize your CPF cap as Personal Relief to your Personal Chargeable Income by declaring some of your company profits in the form of year end bonus to yourself? Received some enquiries yesterday to explain and illustrate how…
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