Anonymous

17 Nov 2020

∙

Filing corporate taxes for 2020 will become easier for SMEs, with a new simplified Corporate Income Tax Return form and more digital solutions being implemented this year. Any SME owners here to share if this is indeed an easier process?

Wondering if this process is really a better process?

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How do I file taxes as a self-employed tutor? I am 22, just graduated and have been giving tuition since Jan 2020. My income increased significantly since April, but I am not sure if I need to file taxes. Any advice?

I did a cash top up to my CPF Medisave early this year in Jan 2020. However, my income tax statement for 2020 did not reflect the tax relief for my cash top up. Am i missing something?

I have top up 6k for CPF medisave voluntary contribution in Jan 2020 but it does not reflect tax relief in my income tax year of assessment 2020?

At what income bracket does it become worth topping up SA / SRS, to enjoy tax savings? I'm 26, earning $28,000 and paying tax of $160 a year – not sure if that's worth?

How do we know the bracket of income tax we will belong to for 2021? (Let’s take 2021 for sake of discussion since it’s the filing period is already here for 2020’s taxes)?