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Do I need to file income tax Singapore

Do I need to file income tax Singapore

Whether you need to file income tax in Singapore depends on your annual income and residency status. Here's a breakdown:

  • Residents with annual income S$20,000 or more: It is mandatory to file a tax return [IRAS Singapore].

  • Residents with income less than S$20,000:  You generally don't need to file, but you may still need to if requested by the Inland Revenue Authority of Singapore (IRAS).

  • Non-residents: If you derived income from Singapore in the preceding year, you are required to file an Income Tax Return.

Even if you don't owe any taxes, it's recommended to file to claim any reliefs or rebates you might be entitled to. You can find more information on the IRAS website [IRAS Singapore].

How do I file my income tax

There are two ways to file your income tax in Singapore:

  • Electronically via myTaxPortal: This is the preferred method and is generally faster and easier. You can access myTaxPortal through the IRAS website [IRAS Singapore].

  • Filing a paper Income Tax Return: This method involves submitting a completed hardcopy form to IRAS. You can find instructions and relevant forms on the IRAS website [IRAS Singapore] as well.

The deadline for filing for tax year 2023 (income earned in 2022) has already passed (April 18, 2024 for electronic filing and April 15, 2024 for paper filing). However, this information will be useful for future tax filings.

What is the due date for filing income tax return

The due date for filing income tax returns in Singapore depends on the filing method:

  • Electronic filing (e-filing): The due date is April 18th of the year following the income earning year.

  • Paper filing: The due date is April 15th of the year following the income earning year.

For instance, since today is April 5, 2024, the deadline to file for income earned in 2022 (tax year 2023) has already passed (April 18th, 2024 for e-filing and April 15th, 2024 for paper filing). This information is helpful for filing your taxes for the current year (2024) and onwards.

How Bestar can Help

Bestar can tell you whether you need to file income tax in Singapore.

Our services can be helpful in determining your filing requirement and guiding you through the process. Here's how:

  • Understanding your tax residency and income: We can help clarify your residency status and assess your total annual income for the relevant tax year.

  • Knowing the filing requirements: Based on your residency and income, we can advise you on whether you are mandated to file a tax return.

  • Navigating tax reliefs and deductions: Bestar can help identify any tax reliefs or deductions you might be eligible for, potentially reducing your tax liability.

Even if you determine you don't necessarily need to file, our assistance can ensure you maximize any potential benefits from the system.


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