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Tax Changes
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Summary
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FAQ/Related Information
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Personal Income Tax Rebate for Resident Individuals |
All resident individual taxpayer
will be given a one-off income tax rebate of 20%, up to a cap of $2,000, for the tax payable for Year of Assessment (YA) 2009.
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One-off personal tax rebate for YA2009. |
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Flexible GIRO arrangements |
Taxpayers* who have lost their jobs in 2008 or 2009, for example
due to retrenchment, can approach IRAS to re-work their GIRO
instalment plans (up to a maximum of 24- month instalments) for
tax assessed in YA 2009. Please call 1800 356 8300 for assistance.
* Except for foreigners where tax clearance is applicable. The
requirement to settle all outstanding taxes before leaving
Singapore remains unchanged. |
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Removal of Income Tax on Net Annual Value |
Income tax on net annual value of all residential properties will
be
removed
from YA2010. |
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Tax Exemption of Foreign - Sourced Income Received in Singapore |
Tax exemption will be granted to all foreign-sourced income earned/
accrued outside Singapore on or before 21 Jan 2009 to resident
non-individuals and resident partners of partnerships in Singapore and received
in Singapore during the period from 22 Jan 2009 to 21 Jan 2010. |
Extract from the
Budget Speech Annex
e-Tax Guide on Temporary Liberalisation of Income Tax Exemption
for Foreign-Sourced Income Received in Singapore from 22 Jan 2009
to 21 Jan 2010
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Enhancement of tax deduction on donation |
Tax deduction will be
increased for donations made in 2009 to Institutions of a Public
Character and other approved recipients (such as approved museums, prescribed
schools etc.) from double to 2.5 times.
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Extracted from IRAS Updated Aug 2009 |
