Quick guide for e-filers(yt)

8/14/2019 Quick guide for e-filers(yt)

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YA08 Quick Guide for e-Filers

Year of Assessment 2008 Quick Guide for e-Filers

AUTO-INCLUSION

Do not declare/claim the following income/reliefs:

Income

a. Employmentb. NSmen payc. Dividends

d. Withdrawals from Supplementary Retirement Scheme (SRS)e. Trade Income (if you are self-employed who had received government paid maternity leave)

Expenses

f. Zakat Harta (if you have provided information to MUIS)

Donationsg. If your employer is in the Auto-Inclusion Scheme or you had provided your NRIC/FIN no. to

an approved IPC upon donating.

Personal Reliefsh. Earned income relief

i. CPF contributions j. CPF contributions for self-employed

k. Cash top-up of retirement account under the CPF minimum sum schemel. Contribution to the SRS

m. NSmen relief (for NSmen, wife and parent of NSman)

NON AUTO-INCLUSION

EMPLOYMENT WHAT YOU NEED TO DO

SalaryBonus

Directors feesOthers(Part time, Benefits-in-kinds)

Declare amount as shown in Form IR8A.

Declare the full amount for retrenchment benefit, if

any. Send in Form IR8A and any letter from ex-employer.

Employment expenses e.g. travelling(other than motor car), entertainment,

subscription to professional bodies,Mosque Building Fund/zakat fitrah &

harta.

Expenses must be for official duties and notreimbursed by your employer. Give details of

amount claimed (e.g. date, nature, purpose).

OTHER INCOME

Dividends Declare dividends from:

NTUC Healthcare/Co-operatives;

Vouchers issued in the name of thenominees but you are the beneficiary of thedividends.

Declare your share of dividends from jointaccounts.

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Interest Declare interest other than from Approved Banksand licensed Finance Companies in Singapore.

Rent/Net Annual Value (NAV is theannual value shown in your property tax

bill less allowable expenses)

If you own and occupy only 1

property and its NAV is more

than $150,000.

If you own and occupy 2 or more

properties for residential

purposes, only the NAV of 1property is not taxable if it does

not exceed $150,000.

If you let someone stay rent-freein your property, the full NAV istaxable.

Enter the gross rent (inclusive of rental of furnitureand fittings, service charges received) and expenses

incurred, e.g. property tax, mortgage interest, fireinsurance, repairs and maintenance.

Enter the amount of NAV in excess of $150,000 andallowable expenses incurred.

Enter the required information of the otherproperties.

Enter the required information.

RoyaltyIncome received from the right to usecopyrights, patents, trademarks etc.

Declare royalties:

that are borne directly or indirectly by a

person living in Singapore or a permanent

establishment in Singapore, or

that are deductible against any income

gained in or derived from Singapore.

ChargeIncome received under a deed or Order

of Court, e.g. alimony or income from a

separation deed or order.

Declare amount received.

Estate/TrustIncome received from an estate underadministration or from a trust.


Gains and profits of an income naturenot included under the above

categories.


SELF-EMPLOYED

Sole-proprietorship

Trade and business income

Professional income (e.g.

lawyers, doctors, accountants)

Vocational income (e.g. taxi

drivers, hawkers, tuitionteachers, property/insurance

agents)

Please complete the 4-Line/ 2-Line statement

4-Line Statement(1) Turnover

(2) Gross Profit/Loss(3) Allowable Deductions

(4) Adjusted Profit/Loss

2-Line Statement (for turnover less than $100,000)

(1) Turnover(2) Adjusted Profit/Loss

Business Expenses Allowable Deductions under the 4-line statementinclude:

interest on money borrowed for business

rental and utility charges incurred in business

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upkeep of equipment, machinery or business

premises

compulsory CPF contributions by taxpayer as

employer

Partnership Enter your share of partnership income whichincludes:

your share of divisible profit/loss;

partners salary, bonus, CPF;

other benefits derived from the partnership;

your share of other income (e.g. Interest,

Dividend, Rent, Royalty and Others);

donations; and/or

tax deducted at source from the partnership.

DONATIONS

Donations Declare donations if:

your employer is NOT in the Auto-Inclusion scheme; and

you have not given your NRIC/FIN No. to the approved IPC

upon donatingRELIEFS

Wife/Ex-wife Relief Claim:

$2,000 if your wifes income less than $2,000 in the

preceding year

up to $2,000 if you are divorced/legally separated & paid

alimony to wife

HandicappedSpouse/Ex-spouse

Relief

Claim:

$3,500 if your handicapped spouses income is less than

$2,000 in the preceding year

up to $3,500 if you are divorced & paid alimony to

handicapped spouse (for first time claim, you need tosubmit details to IRAS)

Qualifying Child Relief(QCR)

Claim $2,000 if your:

child is not married

child is under 16 or studying full time if child is above 16

years

childs income is less than $2,000 in the preceding year

You and your spouse may also divide $2,000 between two of you.

Handicapped ChildRelief (HCR)

Claim $3,500 if your:

child is not married

childs income is less than $2,000 in the preceding year

You and your spouse may also divide $3,500 between two of you.

Working Mothers ChildRelief (WMCR)

Eligible for married/divorced/widowed female working

taxpayer

Child must be Singapore Citizen as at 31 December 2007

Child satisfies claim for QCR

1st child : 5% of earned income2nd child : 15% of earned income

3rd child : 20% of earned income4th child born after 1 January 1987: 25% of earned income

Do not enter amount for WMCR. Amount will be automaticallycalculated based on your eligibility, when we process your tax

form.Maximum of QCR/HCR + WMCR: $25,000 per child

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Parent Relief -

Living/Not living with

you

Claim $5,000 (living together) / $3,500 (not living together) if:

parent(s) was/were living in Singapore

parents income was less than $2,000 in the preceding

year

parent(s) was/were 55 years of age or more in the

preceding year

no other person is claiming any relief for supporting the

same parent

Handicapped ParentRelief

Claim $3,000 in addition to the Parent Relief amount of $5,000(living together) / $3,500 (not living together).

Same as Parent Relief conditions except there is no age

requirement and parent was physically and/or mentally disabledin the preceding year.

Grandparent Caregiver

Relief (GCR)

Claim $3,000 on yours or your spouse's/ex-spouse's parent or

grandparent if:

you are married/divorced/widowed female working

taxpayer

parent/grandparent/grandparent-in-law was living in

Singapore and not working

parent/grandparent/grandparent-in-law was caring for

his/her Singaporean children who were 12 years old andbelow in the preceding year

parent/grandparent/grandparent-in-law was not carrying

any trade, business, profession, vocation or employment

no other persons are claiming GCR on the same parent

HandicappedBrother/Sister Relief

Claim $3,500 if:

you lived in the same household with your sibling(s) or

spent at least $2,000

your siblings income less than $2,000 in the preceding

yearThis amount of relief can be shared among your siblings.

CPF/Provident Fund Enter amount as per Form IR8A if your employer is NOT in Auto-Inclusion scheme.

Life Insurance Relief Claim 7% of capital sum insured / actual premium paid

(whichever lesser) for life insurance if policy was bought in your

name or your wifes name.

Course Fees Relief Claim $3,500 or amount spent (whichever lesser) for

academic/professional/vocational course relating to existingtrade, business or employment.

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Foreign Maid Levy

Relief (FML)

Claim twice the amount of FML paid for one maid if:

you are a married working female taxpayer

you are a working female taxpayer who is

separated/divorced/widowed, had children living with you

and satisfies the conditions for claim of child relief.Maximum relief = $6,720.

If you qualify for the concessionary levy of $200 per month witheffect from 1 July 2007, you can claim up to $4,440.

Parenthood Tax Rebate(PTR)

Claim if you have a:

legitimate 2nd, 3rd or 4th child born to the family on or

after 1 January 2004; or

2nd, 3rd or 4th child legally adopted on or after 1 January

2004 but before 1 January 2006 while married, divorced orwidowed; or

2nd, 3rd or 4th child born to you on or after 1 January 2004

and you were not legally married to the other natural

parent at that time of the birth of your child but weresubsequently legally married to the other natural parent of

the child before the child reaches 6 years of age; or 2nd, 3rd or 4th child legally adopted on or after 1 January

2006 while married, divorced or widowed if the child is

adopted before he/she reaches 6 years of age.

Rebate amount:$10,000 for 2nd child

$20,000 for 3rd child$20,000 for 4th child

Provide us the following information if you are claiming PTR for the

first time:

order of the child; birth certificate number; and

the proportion of PTR as agreed between you and your

spouse.

Provide us the following documents:

legal adoption papers, if applicable; and

certificate of citizenship (if the child was not a Singapore

citizen at the time of birth)

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