Hi, i have a total pay of about $120k this year before CPF deduction, how can I lower my income tax?

I think cpf top up is 1st, 2nd is srs.

Read Seedly article on tax reduction: https://blog.seedly.sg/guide-income-tax-singapore/, para 2 and 3 (deductions and tax reliefs)

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my take is similar as most of the discussion:

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1) Self SA Topup (up to 7k tax relief)

2) SRS Topup (up to $15,300 tax relief)

3) Top up to parent/spouse/sibiling SA account (up to 7k tax relief. Note: If top up to spouse/sibling, they need to have annual income not more than 4k?? for you to enjoy tax relief)

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*If you do donation, is purely for goodwill. Government might match dollar to dollar for donation to some organisation, but as some contributor mentioned, the tax savings will not match your donation.

** Do use your SRS for investment if you choose topup of SRS acc. SRS account only give u a 0.05% per annum.. Since SRS is for long term retirement planning, you can choose riskier but more rewarding funds to invest on.

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Top up your own SA, it even has 4% interest.

if you invest, you can consider opening an SRS account and topping up. monies in SRS account can be used to invest.

do note that once you do any of the above, money is essentially "locked in". You can withdraw from SRS but there is a penalty for doing so.

1) SRS relief

2) CPF SA cash top-up

3) Course fee relief