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Anonymous

02 Sep 2020

General Investing

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

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

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Elijah Lee

02 Sep 2020

Senior Financial Services Manager at Phillip Securities (Jurong East)

Hi anon,

Parents relief is given if you are supporting your parent/handicapped parents/grandparents/in-laws financially and have incurred expenses in doing so.

As it is expected that such costs will be bourne out of your earned income, relief is granted to account for this accordingly, and as a form of recognition.

https://www.iras.gov.sg/irashome/individuals/lo...

“Parent Relief / Handicapped Parent Relief is given to promote filial piety and recognise individuals who are supporting their parents, grandparents, parents-in-law or grandparents-in-law in Singapore.”

Do check the link for more details. The relief is on your taxable income.

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