Every year, the income tax season in Singapore can feel daunting, but being well-informed and prepared makes a significant difference. Whether you’re a salaried worker, self-employed, or earning extra income from investments, it’s essential to understand the personal income tax filing process to stay compliant with the Inland Revenue Authority of Singapore (IRAS).
With tax deadlines, reliefs, and deductions to keep track of, planning ahead can help you maximise savings and avoid penalties.
This article will guide you through who needs to file taxes, important deadlines, available tax reliefs, and tips for a smooth filing experience, ensuring you navigate Singapore’s tax system with confidence.
Know Your Income Tax Filing Requirements
How do you determine if you need to file a personal income tax return?
First, it’s essential to understand your tax filing responsibilities. In Singapore, taxpayers are divided into two categories:
- Those required to file an income tax return
- Those eligible for the No-Filing Service
You will be notified of which category you belong to:
- If you receive any notice, letter, or SMS instructing you to file your tax return, you must submit it, regardless of:
- Your income for the previous year
- Whether your employer participates in the Auto-Inclusion Scheme (AIS) for Employment Income
- If you receive any notice or SMS informing you that you qualify for the No-Filing Service, you’re not required to file a tax return. You can access the myTax Portal to preview your tax bill, also known as the Notice of Assessment.
Understanding Your Income Tax Obligations
The amount of income tax you owe depends on:
- Your income earned in Singapore
- Your status as a tax resident or non-resident
What is Considered a Tax Resident in Singapore?
You are considered a tax resident if you:
- Are a Singapore Citizen or Permanent Resident (SPR) who lives in Singapore, with only temporary absences, or
- Are a foreigner who has lived or worked in Singapore for at least 183 days in the previous calendar year, or continuously for three consecutive years
- Are a foreigner who has worked in Singapore for a continuous two-year period with at least 183 days of stay, excluding company directors, professionals, or public entertainers.
Be aware of the personal income tax filing deadlines:
- E-filing deadline: 18th April
- Paper filing deadline: 15th April
If you require additional time to submit your income tax return, you can request an extension of up to 14 days.
Complying with your tax responsibilities involves two steps:
- Filing your personal income tax return
- After filing or receiving your income tax notice
Get Ready With the Required Documents to File Your Income Tax Return
Before accessing the myTax Portal, make sure you have the following documents on hand:
- Singpass account or Singpass foreign user account
- If your employer isn’t participating in the Auto-Inclusion Scheme (AIS), obtain Form IR8A from your employer
- Information about your dependents for new relief claims, such as parents or children
- Details of any rental income from your property and other sources of income
The documents you’ll need to attach will be outlined in the Consolidated Statement. Additionally, keep accurate records for at least five years to easily verify your income and expenses.
Avoid Errors When Claiming Tax Reliefs
According to IRAS, common mistakes in claiming tax reliefs involve qualifying child relief, spouse relief, and parent relief. These errors often occur because taxpayers fail to meet the eligibility criteria for each relief.
Other mistakes can happen when multiple taxpayers make duplicate claims for the same dependent. If all parties share the same dependent and meet the requirements, tax relief can be divided based on an agreed-upon allocation.
However, the total relief claimed by everyone cannot exceed the allowed amount. It’s a good idea to verify your eligibility or consult with a tax expert like WLP to avoid these issues.
Making Corrections After Filing or Receiving Your Income Tax Notice
If you need to make a correction after submitting your initial income tax return, you can refile through the myTax Portal within 7 days of your last submission or by 18 April, whichever comes first.
IRAS has started issuing tax bills (Notice of Assessment or NOA) since YA 2024. It’s crucial to review the bill to ensure your income and relief claims are accurate.
If there are missing claims or income not reflected in the bill, notify IRAS within 30 days using the Object to Assessment digital service on the myTax Portal.
If you discover errors in your tax return, it’s advisable to inform IRAS promptly so they can be corrected.
Simplify Your Personal Income Tax Filing with WLP Tax Expertise
Filing your personal income tax in Singapore can be straightforward with the right guidance. By staying updated on key deadlines, tax reliefs, and deductions, you can manage your tax responsibilities while ensuring compliance with IRAS regulations. If the process feels overwhelming or you want to ensure accuracy and maximise savings, our professional tax experts are here to assist you.
At WLP, we offer stress-free tax filing services customized to your needs. Let us take care of the complexities while you enjoy peace of mind. Contact us today and file your personal income tax with confidence!
