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Anonymous

18 Dec 2020

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What are the steps you have taken to reduce your income tax for the year?

I have already depleted my parenthood tax rebate so I need to explore other ways to lower my tax bill. The actions that I have taken include:
· Allocating all the Qualifying Child Relief to myself
· Cash top-ups to my parents’ retirement accounts
· Cash top-ups to my SRS account
· Donation to IPC-approved charities (eg: The Courage Fund which provides relief to those affected by Covid-19)

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SRS, RSTU, donations. That’s all for me. 🤣

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