Advertisement

Glen Goh

15 Oct 2021

∙

Parent tax relief if you’re living in your parents home?

So my dad recently retired. So that means he’s not earning income. Plus I’m still staying in his home. Does that mean I can claim parent tax relief if I’m giving him allowance?

CPF site did not specify whose home it has to be in..

2

Discussion (2)

What are your thoughts?

Learn how to style your text

Tan Choong Hwee

16 Oct 2021

Investor/Trader at Home

Parent Tax Relief is not a CPF thing, you should look at IRAS website:

https://www.iras.gov.sg/irashome/Individuals/Lo...

Check the Qualifying Conditions:

If your NRIC shows the same address as his, should be considered same household.
If your dad is 55 or above, this condition is met.
Since your dad only retired recently, his annual income in 2020 and 2021 likely to exceed $4000, most likely not able to get tax relief.

Reply

Save

View 1 replies

Write your thoughts

Related Posts

Can 1 sibling that is not staying with the parent claim 99% of the Parent Relief of $9k with his sibling that lives with their parent, instead of claiming 100% alone and enjoy relief of only $5.5k?

Hi all! Would like to enquire about income tax relief for topping up parent’s CPF account. Any advice if there is an income threshold for parents?

Parents Relief what is the purpose use for ??? is it to help to Relief on ours TAX ?

Should I refinance my home right now with a renovation loan and take advantage of low interest rates to remodel and add value to my home? Living with my parents, resale HDB 72 years left. Thoughts?

If my parents did not withdraw their CPF and they meet all requirements to withdraw anytime, can they withdraw and then I do voluntary top up to get tax relief?

Related Posts

Can 1 sibling that is not staying with the parent claim 99% of the Parent Relief of $9k with his sibling that lives with their parent, instead of claiming 100% alone and enjoy relief of only $5.5k?

Hi all! Would like to enquire about income tax relief for topping up parent’s CPF account. Any advice if there is an income threshold for parents?

Parents Relief what is the purpose use for ??? is it to help to Relief on ours TAX ?

Should I refinance my home right now with a renovation loan and take advantage of low interest rates to remodel and add value to my home? Living with my parents, resale HDB 72 years left. Thoughts?

If my parents did not withdraw their CPF and they meet all requirements to withdraw anytime, can they withdraw and then I do voluntary top up to get tax relief?

Advertisement